Milstein Properties signs $32M refi loan with Oceanfirst Bank for unsold units in Battery Park City

Milstein Properties through the entity Battery Place Associates LLC as borrower signed a refi loan with lender Oceanfirst Bank valued at $32 million for 233 residential condo units and one office condo unit at 99 Battery Place in Battery Park City, Manhattan. The building has 293 residential units overall, according to city records.
The deal closed on March 31, 2021 and was recorded on May 6, 2021.
The units have 205,527 square feet of built space according to PincusCo analysis of city data. The loan price per built square foot is $155 per the PincusCo analysis.
The signatory for Milstein Properties was Howard P. Milstein.
Over the past five years, there have been 8 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 8 renovation/alteration projects (A2) applied for with a total estimated value of $2.6 million.
This is a loan for unsold condo units, and refinances $32 million originally provided by Sovereign Bank in 2010.

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