Samuel Rosenblatt’s Olmstead Properties borrows $65M from Lincoln Life & Annuity Company for office property in Soho

Samuel Rosenblatt’s Olmstead Properties through the entity 584 Broadway, LLC as borrower signed a loan agreement with lender Lincoln Life & Annuity Company Of New York valued at $65.0 million for 1 parcel, including the tax class office building with commercial with seven to 19 stories (O6) at 584 Broadway in Soho. The deal closed on November 20, 2019 and was recorded on November 26, 2019.
The property contains a total of 254,822 square feet of built space.
The average loan per buildable square foot is $255.

Over the past five years, there have been 23 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 23 renovation/alteration projects (A2) applied for with a total estimated value of $3,339,970.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link