Pantzer Properties borrows $22M from Metlife for property in the Upper West Side

Pantzer Properties through the entity 370 Columbus Investors LLC as borrower signed a loan agreement with lender Metlife Commerical Mortgage Originator, LLC valued at $22 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 54 residential units at 370 Columbus Avenue in the Upper West Side. The deal closed on October 30, 2020 and was recorded on November 25, 2020.
The property contains a total of 31,125 square feet of built space. The property has 61,151 square feet of available development rights.
The average loan per unit is $407,037.
The last time the property sold was December 9, 2013, for $35,750,000.

Over the past five years, there have been 5 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 5 renovation/alteration projects (A2) applied for with a total estimated value of $467,140.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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