Townhouse Management refis $39M with Santander Bank for property in Murray Hill

The Maidman family’s Townhouse Management Company through the entity 554 Euo LLC as borrower signed a loan agreement with lender Santander Bank, N.A. valued at $39.7 million for 1 parcel, including the tax class hotel/boatel condominium (RH) at 554 Third Avenue in Murray Hill. The deal closed on February 1, 2021 and was recorded on February 22, 2021.
The property contains a total of 98,769 square feet of built space.
The average loan per buildable square foot is $402.

Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $268,000.

Direct link to Acris document. link