S.W. Management borrows $104.7M from Deutsche Bank for property in the Upper East Side

S.W. Management through the entity 78/79 York Associates LLC as borrower signed a loan agreement with lender Deutsche Bank Trust Company Americas valued at $104.7 million for 13 parcels, including the tax class multifamily, more than six families with stores (C7) and containing 1,364 residential units at 1472 York Avenue, 503 East 78th Street, 511 East 78th Street, 519 East 78th Street, 527 East 78th Street, and others in the Upper East Side. The deal closed on September 15, 2020 and was recorded on October 2, 2020.
The property has 1,287,473 square feet of built space and available development rights.
The average loan per unit is $76,778.
This loan is cross collateralized with 250 East 63rd Street and 355 East 72nd Street.

Over the past five years, there have been 9 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 9 renovation/alteration projects (A2) applied for with a total estimated value of $513,600.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link