Samson Management signs $31M refi with Societe Generale for rental in Murray Hill

Samson Management through the entity 15-17 Park Avenue Delaware LLC as borrower signed a refi loan with lender Societe Generale Financial Corporation valued at $31 million for the 100-unit rental (D6) at 15-17 Park Avenue in Murray Hill, Manhattan.
The deal closed on August 16, 2021 and was recorded on September 14, 2021.
The property has 71,115 square feet of built space and 16,457 square feet of additional air rights for a total buildable of 87,540 square feet according to PincusCo analysis of city data. The loan price per built square foot is $435 and the price per buildable square foot is $354 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 Samson Management was Brian McCarthy.
Over the past five years, there have been 7 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 7 renovation/alteration projects (A2) applied for with a total estimated value of $1.2 million.
The owners according to the Department of Housing Preservation and Development includes John Bianco, head officer and David Kershner, officer. The business entities are Samson Management Llc and 15-17 Park Avenue Delaware Llc.
Within a 400-foot radius of 15-17 Park Avenue, Pincusco identified one commercial real estate item of interests occurred over the past 24 months.
It was a loan which Cammeby’s International Group borrowed $114.0 million from New York Community Bank secured by the 236,315-square-foot, 241-unit rental (D6) on 30 Park Avenue on April 7, 2020.

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