Olnick Organization borrows $105M from First Republic for office property in Nolita

Olnick Organization through the entity Roc-Lafayette Associates, LLC as borrower signed a loan agreement with lender First Republic Bank valued at $105 million for 1 parcel, including the tax class office building with commercial with seven to 19 stories (O6) at 63 Prince Street in Nolita. The deal closed on December 20, 2019 and was recorded on December 24, 2019.
The property contains a total of 169,961 square feet of built space.
The average loan per buildable square foot is $618.

Over the past five years, there have been 14 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 14 renovation/alteration projects (A2) applied for with a total estimated value of $2,322,160.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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