Rockrose Development obtained financing of $96M from Axa Equitable Life Insurance Company

Rockrose Development through the entity 300 Park Ave. So. L.L.C. as borrower signed a loan agreement with lender Axa Equitable Life Insurance Company through the entity Axa Equitable Life Insurance Company valued at $96.2 million for 1 parcel, including the tax class office bank building designed exclusively for banking (O6) at 300 Park Avenue South in Flatiron. The deal closed on August 15, 2019 and was recorded on August 29, 2019.
The property contains a total of 168,200 square feet of built space.
The average loan per buildable square foot is $572.
The last time the property sold was April 09, 2010, for $73,123,491.

Over the past five years, there have been 45 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $1,000. There were 44 renovation/alteration projects (A2) applied for with a total estimated value of $9,098,216.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link