SL Green borrows $600M from Goldman Sachs, others to rehab Hudson Yards office

SL Green Realty through the entity 460 Rollover Sub LLC as borrower signed a loan agreement with lender Goldman Sachs Bank USA and others valued at $600 million for 1 parcel, including the tax class office building with commercial with seven to 19 stories (O6) at 410 Tenth Avenue also known as 460 West 34th Street in Hudson Yards. The deal closed on August 18, 2020 and was recorded on September 15, 2020.
The property contains a total of 538,520 square feet of built space.
The average loan per buildable square foot is $644.
This is a rehab construction loan that adds to and refinances a $465 million loan given by United Overseas Bank. The last time the property sold was May 1, 2019, for $291,734,080.

SL Green filed renovation plans valued at $3.1 million with the Department of Buildings at the building earlier this month.

Over the past five years, there have been 43 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $8,100,000. There were 42 renovation/alteration projects (A2) applied for with a total estimated value of $50,126,283.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link