1441 Broadway Avenue, 34 Desbrosses Street, 560 Seventh Avenue (Google Maps)

After some monster real estate loans from Manhattan in August, lightning was unlikely to strike again in September. And it was not so.

The 10 largest Manhattan home loans on record last month totaled $ 1.1 billion, about a third of the August mark, but on par with July.

The largest debt refinancing for an aging office building at 1441 Broadway Avenue, while the second largest went to a Tribeca condo conversion run by Related Companies. Related made the list twice when paying off his debt at the new Margaritaville hotel in Times Square.

These were the largest real estate loans in the municipality in September:

1. Refi Redux | $ 241 million
LH Charney Associates refinanced 1441 Broadway Avenue, a Midtown office building that spans 500,000 square feet, with $ 241 million from Deutsche Bank. The funds include a $ 56 million deficit loan. In August, LH Charney refinanced nearby 1410 Broadway with $ 148 million in loans from Pacific Coast Capital Partners.

2. Truffle hound | $ 222 million
Related will use $ 76 million in new loans from Deutsche Bank to convert luxury condo rentals at 34 Desbrosses Street, the so-called Truffles Tribeca building. The funds come with $ 146 million to refinance previous debt, for a total of $ 222 million in loans. Related purchased the property in early 2019 from the Jack Parker Organization for $ 260 million. (Deutsche Bank is moving its North American headquarters to Related’s One Columbus Circle, formerly Time Warner Center.)

3. Consume again | $ 150 million
Soho Properties refinanced its construction debt at the Margaritaville hotel at 560 Seventh Avenue in Times Square with $ 150 million in loans from Bedrock Capital Associates and One William Street, records show. The funds eliminate debt from related companies and include $ 16.4 million in financing for new construction. True to its laid-back vibe, the new island-themed hotel opened during the pandemic.

4. Repatriated debt | $ 105 million
sheet refinanced $ 105 million on construction loans maturing at 106 West 56th Street, a new boutique office building in Midtown. Debt from Los Angeles-based private equity lender Cottonwood Group will replace loans originated by Singaporean bank United Overseas Bank.

5. Liberty benefits | $ 104 million
Goldman sachs originated $ 103.8 million in private debt guaranteed by Tribeca Green of Related Companies, a Robert AM Stern-designed rental building at 325 North End Avenue in Battery Park City. The funds replace the Liberty Bond proceeds Related received in 2003 as part of New York’s post-9/11 recovery. Related’s property lease expires in 2069, mortgage records show.

6. Yorkville Yardwork | $ 82 million
Investments of the Izaki Group insured $ 81.8 million on construction loans from Bank Leumi USA for a scratch residential project at 310 East 86th Street in Yorkville. Bank Leumi separately extended the term of $ 48.2 million in acquisition loans. The Israeli development company in 2019 increased its square footage to 150,000 from 80,000 after purchasing additional nearby properties.

7. Get “Buy” on CMBS | $ 78 million
Empire Capital Holdings and Igal Namdar insured $ 78 million in funds from the CMBS loan, originated by Benefit Street Partners, to purchase 345 Seventh Avenue, a century-old office building near Penn Station, and three smaller adjacent buildings. Clemons Management was the previous owner. Long-term tenants occupy only 43 percent of the building.

8. Reduction of hotel debts | $ 48 million
Concorde Hospitality earned $ 48.3 million from Minneapolis-based Varde Partners, which consolidated and reduced $ 51.8 million in debt at Sam Chang’s hotel at 100 Greenwich Street. Concorde simultaneously bought the hotel for $ 69 million.

9. Money making machine | $ 45 million
Romanoff Equities got a $ 45 million loan from New York Life Insurance Company insured for rate interest at 860 Washington Street, a 10-story office building in the Meatpacking District. Meadow Partners purchased the building’s land lease last year for approximately $ 230 million.

10. Allowable Liens | $ 45 million
A limited liability company affiliated with Gould Investors received a $ 45 million home loan from AIG Investments secured by 35 Irving Place, a Gramercy Park office building spanning 288,000 square feet and was built in 1909.


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