ACRES Capital Corp. has co-originated a $120 million loan to fund the acquisition of Park 53 located at 45 East 53rd Street in New York City.
Well located within Midtown Manhattan’s Plaza District, the property is walking distance from Grand Central Station as well as multiple major subway lines and bus routes. The property is a 19-story lower-level Class A boutique high-rise office building with a total net rentable area of 127,473 SF.
The property includes:
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