PIA Investments Ltd. adds $37M from National Bank of Pakistan to Roosevelt Hotel debt

PIA Investments Ltd. through the entity Rhc Operating LLC as borrower signed a loan agreement with lender National Bank Of Pakistan, Bahrain Branch valued at $37.0 million for 1 parcel, including the tax class luxury type hotel built prior to 1960 (H1) at 45 East 45th Street in Grand Central. The deal closed on December 14, 2020 and was recorded on January 12, 2021.
The property contains a total of 598,248 square feet of built space.

The owners of the Roosevelt Hotel obtained $37 million in additional financing secured by the Roosevelt Hotel.
Over the past five years, there have been 15 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 15 renovation/alteration projects (A2) applied for with a total estimated value of $10,300,000.

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