Solow Building Company borrows $125M for 4 West 58th Street in Plaza District

Sheldon Solow’s Solow Building Company through the entity Ulysses Co. Ii, L.L.C. as borrower signed a loan agreement with lender JPMorgan Chase Bank valued at $125 million for 1 parcel, including the tax class office building with commercial with seven to 19 stories (O6) at 4 West 58th Street in Plaza District. The deal closed on February 28, 2020 and was recorded on March 10, 2020.
The property contains a total of 61,000 square feet of built space. The property has 65,243 square feet of available development rights.
The average loan per buildable square foot is $1,916.
This building is adjacent to Solow’s 9 West 57th Street.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on December 14, 2017.
Over the past five years, there have been 20 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 $30,000. There were 19 renovation/alteration projects (A2) applied for with a total estimated value of $4,271,075.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link