Rialto Capital acquires $19.5M note secured by Midtown office building

Rialto Capital Management acquired a $19.5 million note secured by a Midtown office building at 33-35 West 46th Street in Midtown owned by Nuess Real Estate. Rialto acquired it through the entity Rss Msbam2015-C20 -0Ny 3W4, LLC. The deal closed on March 2, 2021 and was recorded on April 7, 2021.
The property contains a total of 34,553 square feet of built space.
Nuess Real Estate borrowed $19.5 million in 2014 which was securitized in 2015. The last time the property sold was December 1, 2009 for $11,000,000.
Over the past five years, there have been 5 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 5 renovation/alteration projects (A2) applied for with a total estimated value of $965,000.

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