PIMCO buys two co-op building notes with $6.2M in original principal

Institutional investment firm PIMCO bought two small loans with a combined original principal of $6.2 million secured by two residential cooperative buildings in Manhattan.

In the first transaction, PIMCO bought a note with an original principal of $3 million from Capital One secured by 675 West End Owners Corp’s interest in a 62-unit co-op (D4) at 675 West End Avenue in Upper West Side, Manhattan.
The deal closed on September 28, 2021 and was recorded on October 15, 2021.
The property has 81,066 square feet of built space according to PincusCo analysis of city data.

This is a building-wide loan on a cooperative building.

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In the second acquisition, PIMCO bought a note with an original principal of $3.2 million from Capital One secured by 235 East 49 Street Tenants Corp.’s interest in the 75-unit co-op (D4) at 235 East 49th Street in Midtown, Manhattan.
The deal closed on September 28, 2021 and was recorded on October 15, 2021.
The property has 73,800 square feet of built space according to PincusCo analysis of city data. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)

Direct link to Acris document. link