SL Green Realty obtained financing of $198M from Wells Fargo Bank

SL Green Realty through the entity 55W46 Condo Owner LLC as borrower signed a loan agreement with lender Wells Fargo Bank, National Association valued at $198.0 million for 5 parcels, including the tax class commercial real estate (CR) at 50 West 47Th Street, 50 West 47Th Street, 50 West 47Th Street, 50 West 47Th Street, 50 West 47Th Street in Plaza District. The deal closed on August 22, 2019 and was recorded on September 03, 2019.
The property contains a total of 207,595 square feet of built space.
The average loan per buildable square foot is $790.
This loan adds $3 million in a gap mortgage to debt obtained in 2017 and earlier. The last time the property sold was October 31, 2014, for $221,250,000.

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