Rockefeller Group signs $84M refi for 1271 Sixth in Rock Center

Rockefeller Group through the entity Rockefeller Center North, Inc. as borrower signed a refi loan with lender Apple Bank for Savings at $84 million for the office building (O4) at 1271 Sixth Avenue in Rockefeller Center in Midtown, Manhattan.
The deal closed on October 1, 2021 and was recorded on October 15, 2021.
The property has 1,962,900 square feet of built space according to PincusCo analysis of city data. The loan price per built square foot is $42 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)

The signatory for Rockefeller Group was Sanford P. Pallotta. The signatory for Apple Bank for Savings was Cynthia Wang.

Within a 400-foot radius of 1271 Avenue Of The Americas, PincusCo identified seven commercial real estate items of interests occurred over the past 24 months.
Of those seven items, four were for major renovation including a certificate of occupancy change. They were three permits with a total initial cost of $27.5 million and one initial temporary certificate of occupancy issuance for a project that initially costed $603,750. The most recent of these four items was the permit on September 14, 2020 for a 1,793,091-square-foot B building with no residential units at 1251 Avenue Of The Americas.
Of those seven items, two were sales above $5 million totaling $506 million. The most recent of the two was UBS Realty Investors which bought the 865,759-square-foot, 52-unit office building (O4) on 135 West 50th Street for $221 million from Safehold on December 17, 2019.
One of those seven items was a loan which Safehold borrowed $106.9 million from AIG secured by the 865,759-square-foot, 52-unit office building (O4) on 135 West 50th Street on December 17, 2019.

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