Time Equities signs $6.6M refi with Lafayette Federal Credit Union for UWS retail condo

Time Equities through the entity 221 West 82nd Street LLC as borrower signed a refi loan with lender Lafayette Federal Credit Union valued at $6.6 million for the retail condominium unit at 2280 Broadway in Upper West Side, Manhattan.
The deal closed on January 21, 2026 and was recorded on January 26, 2026. The prior lender was Blackstone Group.

The property has 7,174 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $919 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Time Equities was Robert Kantor . The signatory for Lafayette Federal Credit Union was Gregory J. Fierce .

The property

The retail condo in Upper West Side has 7,174 square feet of built space according to a PincusCo analysis of city data. The parcel has a total lot size of 7,174 square feet. The city-designated market value for the property in 2022 is $7.3 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has not received any significant violations in the last year.

Development

For the tax lot building, it received its initial certificate of occupancy on October 28, 2019. There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In Upper West Side, The majority, or 59 percent of the 52.9 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 23 percent of the space. In sales, Upper West Side has 2.9 times the average sales volume among other neighborhoods with $949.6 million in sales volume in the last two years and is the 12th highest in Manhattan. For development, Upper West Side has 1.2 times the average amount of major developments relative to other neighborhoods and is the 22nd highest in Manhattan. It had 1.8 million square feet of commercial and multi-family construction under development in the last two years, which represents 3 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of 10 of the 14 commercial properties representing 280,755 square feet of the 339,476 square feet. The largest owner is Eastgold Holdings, followed by Hubb Nyc and then Nyc Department Of Education.
There are no active new building construction projects on this tax block.

The majority, or 49 percent of the 339,476 square feet of built space are elevator buildings, with walkup buildings next occupying 23 percent of the space.

The borrower

The PincusCo database currently indicates that Time Equities owned at least 18 commercial properties with 419 residential units in New York City with 401,862 square feet and a city-determined market value of $122.1 million. (Market value is typically about 50% of actual value.) The portfolio has $199.6 million in debt, with top three lenders as Benefit Street Partners, Flushing Bank, and Time Equities respectively. Within the portfolio, the bulk, or 47 percent of the 401,862 square feet of built space are walkup properties, with office properties next occupying 28 percent of the space. The bulk, or 61 percent of the built space, is in Manhattan, with Queens next at 29 percent of the space.

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