Simons Foundation affiliate borrows $64M and pays off acquisition loan provided by Simons affiliate

Marilyn Simons, wife of billionaire investor James Simons, and the Simons Foundation through the entity Alabama Flats LLC as borrower executed a loan agreement with lender Bank of America valued at $64.2 million for 78 parcels, including the tax class high-rise condominium apartment/elevated, residential unit (R4) and containing 78 residential units at 13-15 East 11th Street, in the West Village. The deal closed on June 30, 2020 and was recorded on July 8, 2020.
The average loan per unit is $822,756.
Simons acquired the property January 31, 2020, for $102.9 million, from Pebb Capital and TriArch Real Estate Group and at the time borrowed $43.35 million from an anonymous LLC, NOIS CPG, LLC. The signatory for that LLC, when assigning the debt to Bank of America, was an executive with James Simons’ Euclidean Capital, the family office for the billionaire investor.

The new financing includes a gap loan of $20.8 million.

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