Imperial Companies lands $134.3M loan for Henry Hall rental tower

Imperial Companies and the Shorenstein family have secured a $134.3 million loan for the Henry Hall rental building in Hudson Yards, according to city records.

The new loan replaces a $104 million mortgage from the New York State Housing Finance Agency. Metropolitan Life Insurance Company is the lender for the new loan.

The property, located at 509 West 38th Street, is a 30-story story, 225-unit mixed-use tower located between 10th and 11th Avenue. It is the former home of the Legacy Recording Studio.

It contains 243,689 s/f of space, which includes 13,379 s/f of retail and 29,180 s/f for a community facility. The first and second floors of the property will contain a restaurant operated by Delicious Hospitality. The residential portion of the building, meanwhile, will contain amenities such as a jam room, a roof deck, private dining rooms and a wine room. Rents start at $3,200 per month.

The tower, which stands 361 feet tall, topped out in August of last year, according to a previous report from New York YIMBY. It is expected welcome residents sometime this year, according to BKSK Architects, which designed the tower.

 

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