Roxann Management signs $47M refi loan with KeyBank for 12 commercial condos in Manhattan

Roxann Management through the entity 1628 Second Avenue Retail LLC as borrower signed a refi loan with lender KeyBank valued at $47 million for 12 commercial condo units including the property at 203 West 90th Street in Upper West Side, Manhattan, property at 2681 Broadway in Upper West Side, Manhattan, and property at 311 Amsterdam Avenue in Upper West Side, Manhattan.
The deal closed on October 26, 2021 and was recorded on February 4, 2022. The prior lender was BankUnited which held debt that had an original loan amount of $37 million.
The 12 properties have 38,443 square feet of built space according to PincusCo analysis of city data. The loan price per built square foot is $1,222 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 Roxann Management was Lauren Seligman. The signatory for KeyBank was Cynthia M. Milioto.
(123453592)The DOB issued a major alteration (A1) initial temporary certificate of occupancy for one of the building with 83 residential units on September 8, 2020.
On the tax block, the majority, or 72 percent of the 506,128 square feet of built space are residential elevator buildings, with residential walkup buildings next occupying 14 percent of the space.

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