SYU Properties Refinances 60,397 SF Office At 247 West 30th Street With $14M Loan From ConnectOne Bank

The asset involves a two-unit, 60,397-square-foot office building located at 247 West 30th Street in the Penn Plaza market of Manhattan. This property is now refinanced with a total loan amount of $14,000,000, replacing a prior debt of $22.7 million held by Lone Star Funds.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $14,000,000
• Lender: ConnectOne Bank
• Landlord: SYU Properties
• Loan Type: Refinance
• Date of Transaction: March 12, 2026

ConnectOne Bank provided the financing for SYU Properties, allowing them to refinance their existing debt on the office building at 247 West 30th Street. This transaction replaced the previous financial obligation to Lone Star Funds, marking a significant change in the property's financial structure.