RFR Holding obtained financing of $198M from CITIBANK

RFR Holding through the entity 477 MADISON LLC as borrower signed a loan agreement with lender CITIBANK, N.A. valued at $198.3 million for 1 parcel, including the tax class office building with ten stories or more (main avenue type) (O3) at 477 Madison Avenue in Plaza District. The deal closed on June 27, 2019 and was recorded on July 11, 2019.
The property contains a total of 262,287 square feet of built space.
The average loan per buildable square foot is $163.

Over the past five years, there have been 39 NYC Department of Buildings permit applications filed for this parcel. There were 39 renovation/alteration projects (A2) applied for with a total estimated value of $6,824,351.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

Share this article