Meadow Partners borrows $116M to acquire Meatpacking ground lease

Meadow Partners through the entity 860 Washington Gorp Property LLC as borrower signed a loan agreement with lender JPMorgan Chase Bank valued at $116.0 million for 1 parcel, including the tax class office building with commercial with seven to 19 stories (O6) at 860 Washington Street in West Village. The deal closed on December 30, 2020 and was recorded on January 12, 2021.
The property contains a total of 115,173 square feet of built space.
The average loan per buildable square foot is $1,007.

Over the past five years, there have been 42 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 42 renovation/alteration projects (A2) applied for with a total estimated value of $19,036,045.

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