Sutton Management Corp. borrows $46M from New York Community Bank for property in Tribeca

Abraham Sutton’s Sutton Management Corp. through the entity 291 Broadway Realty Associates, LLC as borrower signed a loan agreement with lender New York Community Bank valued at $46.0 million for 1 parcel, including the tax class office building with commercial with seven to 19 stories (O6) at 291 Broadway in Tribeca. The deal closed on October 4, 2019 and was recorded on October 21, 2019.
The property contains a total of 128,940 square feet of built space.
The average loan per buildable square foot is $357.

The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on August 16, 2012.
Over the past five years, there have been 16 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 16 renovation/alteration projects (A2) applied for with a total estimated value of $2,410,085.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link