NYU Langone Medical Center borrows $551M from Bank of New York Mellon as trustee for the taxable bonds for property in Kips Bay

NYU Langone Medical Center as borrower signed a loan agreement with bond trustee Bank of New York Mellon for the taxable bonds series 2020B valued at $551 million for 49 commercial condominium units (R5) at 433 East 30th Street in Kips Bay. The deal closed on February 4, 2020 and was recorded on February 5, 2020.

NYU Langone put out a press release saying: “The 2020B taxable revenue bonds will refund outstanding balances on existing debt and amounts outstanding on lines of credit, including a portion of the Winthrop-University Hospital Association Project, Series 2012 bonds, and for general corporate purposes.”
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building on November 20, 2013.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link