Samuel Rosenblatt’s Olmstead Properties borrows $55M from Lincoln Life & Annuity Company Of New York for office property in Tribeca

Samuel Rosenblatt’s Olmstead Properties through the entity 299 Broadway L.L.C. as borrower signed a loan agreement with lender Lincoln Life & Annuity Company Of New York valued at $55.0 million for 1 parcel, including the tax class office building with commercial with seven to 19 stories (O6) at 299 Broadway in Tribeca. The deal closed on November 20, 2019 and was recorded on November 27, 2019.
The property contains a total of 253,033 square feet of built space.
The average loan per buildable square foot is $217.

Over the past five years, there have been 19 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 19 renovation/alteration projects (A2) applied for with a total estimated value of $4,670,940.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link