Terrence Cardinal Cooke Heath Care Center finances $25M from Dormitory Authority for property in Carnegie Hill

Terrence Cardinal Cooke Heath Care Center through the entity Terence Cardinal Cooke Health Care Center as borrower signed a loan agreement with lender Dormitory Authority (bonds sold to Sterling National Bank) through the entity Dormitory Authority Of The State Of New York valued at $25 million for 2 parcels, including the tax class hospitals, sanitariums, mental institutions (I1) at 1240 5th Avenue, 1560 Madison Avenue in Carnegie Hill. The deal closed on June 29, 2020 and was recorded on July 10, 2020.

Sterling National Bank is buying all the bonds.
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. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $6,476,245. There were 23 renovation/alteration projects (A2) applied for with a total estimated value of $5,962,299.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link