Swiss pension investment company Afiaa borrows $52M from Allianz for office property in Grand Central

Swiss pension investment company Afiaa through the entity Afiaa 45 West 45th Street, LLC as borrower signed a loan agreement with lender Allianz Life Insurance Company Of North America valued at $52.2 million for 1 parcel, including the tax class office building with commercial with seven to 19 stories (O6) at 45 West 45th Street in Grand Central. The deal closed on September 26, 2019 and was recorded on November 1, 2019.
The property contains a total of 108,929 square feet of built space.
The average loan per buildable square foot is $479.
The last time the property sold was January 12, 2015, for $81,000,000.

Over the past five years, there have been 46 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 $1,020,000. There were 45 renovation/alteration projects (A2) applied for with a total estimated value of $9,500,519.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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