Eretz Group Secures $27.6M Refinance Loan From Israel Discount Bank For 252 West 37th Street

The asset involved in the transaction is an office property located at 252 West 37th Street in the Garment District of Manhattan, comprising a total square footage of 139,629. The loan amount for this refinancing transaction is $27,600,000.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $27,600,000
• Lender: Israel Discount Bank
• Landlord: Eretz Group
• Prior Debt: $34,400,000 held by Comm 2014-CCRE16 and KeyBank

Eretz Group’s Sheva 7 LLC is managing the refinancing of the office building, indicating a strategic financial move to replace existing debt with a new loan from Israel Discount Bank.