Citigroup Sells $193M Loan Package Backed By Ronald Perelman's Upper East Side Properties
27 East 62nd Street, 35 East 62nd Street, & 41 East 62nd Street
2,536 SF
Summary
Three mixed-use properties located at 27 E. 62nd St., 35 E. 62nd St., and 41 E. 62nd St. in the Upper East Side have been sold in a loan sale transaction. The properties were owned by billionaire Ronald Perelman and were backed by defaulted loans. The sale price for these properties was $115,000,000.
Summary of transation details
- Property Type: Mixed use
- Transaction Amount: $115,000,000
- Seller: Citigroup
- Brokers: Adam Doneger, Avery Silverstein, Adam Spies, Marcella Fasulo & Doug Harmon @CushWake
Citigroup sold the defaulted loans, worth a total of $193 million, at a discount of approximately 40%. The properties include office space for Perelman's investment firm and his private residence. It is worth noting that Ronald Perelman's net worth has significantly decreased from $19 billion to under $4 billion in recent years.
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