Two billionaires borrow total of $48.7M in new debt secured by private residences

Two billionaires, Israel Englander and Robert Sands, in two unrelated transactions borrowed a total of $48.7 million in new debt secured by their private residences in Manhattan.

In the larger, Israel Englander through the entity 8 East 75 LLC as borrower signed a loan agreement with lender Morgan Stanley valued at $25.6 million for 1 parcel, including the tax class primarily one family with store or office (S1) at 8 East 75th Street in the Upper East Side. The deal closed on February 24, 2021 and was recorded on March 25, 2021.
The property contains a total of 11,590 square feet of built space.
The average loan per buildable square foot is $2,209.
Israel Englander is the billionaire CEO of the hedge fund Millennium Management, who bought the townhouse on January 3, 2020 for $38,000,000.  The borrower entity signatory was Samuel Pavel, CFO if EFO Management, a family office management firm. The lender was Morgan Stanley Private Bank, which is lending at 2.15% fixed rate for ten years, and then the loan becomes an adjustable rate.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.

Direct link to Acris document. link

In the second transaction, Robert Sands and his wife Pamela Sands through the entity RSPS Soho LLC as borrower signed a loan agreement with lender Citibank valued at $23.1 million their condo unit at 10 Sullivan Street in Soho. The deal closed on March 3, 2021 and was recorded on March 25, 2021.
The property contains a total of 5,503 square feet of built space.
The average loan per buildable square foot is $2,733.
Robert Sands is the CEO of Constellation Brands and ranked a billionaire.  The last time the property sold was January 11, 2017 for $25,456,250.
Direct link to Acris document. link