Richard Scharf borrows $33M from JPMorgan Chase Bank property in Midtown West

Richard Scharf through the entity 300 West 49th Street LLC as borrower signed a loan agreement with lender JPMorgan Chase Bank valued at $33 million for 1 parcel, including the tax class multifamily, fireproof – with stores (D6) and containing 107 residential units at 300 West 49th Street also known as 799 8th Avenue in Midtown West. The deal closed on May 14, 2020 and was recorded on May 26, 2020.
The property contains a total of 95,026 square feet of built space. The property has 163,533 square feet of available development rights.
The average loan per unit is $308,411.
JPMorgan provided $31 million in 2015.

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 $447,240.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link