Vanbarton Group borrows $93M from Deutsche Bank New York Branch for office property in Grand Central

Vanbarton Group through the entity 292 Madison Ny LLC as borrower signed a loan agreement with lender Deutsche Bank Ag New York Branch valued at $92.5 million for 1 parcel, including the tax class office building tower type with 20 or more stories (O4) at 292 Madison Avenue in Grand Central. The deal closed on October 22, 2019 and was recorded on October 30, 2019.
The property contains a total of 170,230 square feet of built space.
The average loan per buildable square foot is $543.
The last time the property sold was October 7, 2016, for $90,000,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on August 22, 2017.
Over the past five years, there have been 59 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 $10,000. There were 58 renovation/alteration projects (A2) applied for with a total estimated value of $10,890,154.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link