Stawski Partners signs $23.3M refi loan with Helaba for office building in Grand Central

Stawski Partners through the entity 579 Fifth Avenue, LLC as borrower signed a refi loan with lender Helaba through the entity Landesbank Hessen-Thuringen Girozentrale valued at $23.3 million for the office building (O6) at 579 Fifth Avenue in Grand Central, Manhattan.
The deal closed on May 25, 2021 and was recorded on June 4, 2021.
The property has 130,715 square feet of built space and 0 square feet of additional air rights for a total buildable of 92,750 square feet according to PincusCo analysis of city data. The loan price per built square foot is $178 per the PincusCo analysis.
The signatory for Stawski Partners was Axel (Abraham) Stawski.
Over the past five years, there have been 24 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 24 renovation/alteration projects (A2) applied for with a total estimated value of $4.3 million.
Axel Stawski is the founder of Stawski Partners.

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