PRD Realty borrows $35M from Bank of America for commercial property in Garment District

PRD Realty through the entity 17-19 West 34th Street Holding Company, LLC as borrower signed a loan agreement with lender Bank of America valued at $35 million for 1 parcel, including the tax class office building with commercial with seven to 19 stories (O6) at 17 West 34th Street in the Garment District. The deal closed on June 30, 2020 and was recorded on August 11, 2020.
The property contains a total of 193,957 square feet of built space.
The average loan per buildable square foot is $180.
The signatory was Martin Domansky. The financing includes $10 million in new debt.

Over the past five years, there have been 8 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 8 renovation/alteration projects (A2) applied for with a total estimated value of $2,373,646.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link