29 East 40 Street
Grand Central, Manhattan
Parcel ID (BBL): 1012750023
Owner: Daol Asset Management
Acquired: April 28, 2025, $350 million
Debt: April 28, 2025, $205 million
Built: 1926
Renovated: 2013
SF: 407,127
Dwelling units: 0
No. of buildings: 1
Class: Tower Type (O4)
Floors: 25
Transactions:
• Daol Asset Management borrowed $205 million from IGIS Asset Management for 285 Madison Avenue, Grand Central, Manhattan on April 28, 2025.
• RFR Holding sold 285 Madison Avenue, Grand Central, Manhattan for $350 million to Daol Asset Management and Ocean West Capital Partners on April 28, 2025.
• IGIS Asset Management on April 25, 2025 bought a loan with an original principal of $270 million from Series 2018-285M, signed by Tom J. Floyd, secured by 285 Madison Avenue, Grand Central, Manhattan, when owned by RFR Holding.
Development:
• Gerard Schumm filed major alteration job 121235555 for 407,127 sqft B building in Grand Central, Manhattan, on June 27, 2013.
• Michael Dolan filed major alteration job 103513486 for C building in Grand Central, Manhattan, on July 15, 2003.
• Katie Sorensen filed alteration job M01363486 for 11,223 sqft COM building with 0 apartments in Grand Central, Manhattan, on March 27, 2026.
• Katie Sorensen filed alteration job M01339497 for 11,223 sqft COM building with 0 apartments in Grand Central, Manhattan, on February 26, 2026.
• Katie Sorensen filed alteration job M01339502 for 11,223 sqft COM building with 0 apartments in Grand Central, Manhattan, on February 26, 2026.
• Katie Sorensen filed alteration job M01339499 for 11,223 sqft B building with 0 apartments in Grand Central, Manhattan, on February 26, 2026.
• Katie Sorensen filed alteration job M01346664 for 900 sqft B building with 0 apartments in Grand Central, Manhattan, on February 23, 2026.
Litigation:
• Series 2018-285M and KeyBank filed a $270 million pre-foreclosure 850499/2024 on December 30, 2024, against RFR Holding, Aby Rosen and Michael Fuchs at 285 Madison Avenue.
• KTB Asset Management filed a $16.6 million lawsuit 652772/2024 against RFR Holding, Aby Rosen and Michael Fuchs on May 29, 2024,seeking a money judgment related to loanat 285 Madison Avenue.
• KTB Asset Management filed a $1.5 million lawsuit 652332/2024 against RFR Holding, Aby Rosen and Michael Fuchs on May 06, 2024,seeking a money judgment related to loanat 285 Madison Avenue.
Violations:
According to city public data, the properties have received $7,150 in OATH penalties in the last year.