Kennelly first acquired a third-floor unit at the four-story building for $600,000 in March 2006, Propertyshark records show. The next month, he acquired a second-floor unit for $325,000 and, several months later, a fourth-floor unit for $738,000. The initial unit was registered under his Kennelly Development firm.
The original loan was taken out in March 2007, about 12 months before the crane collapsed at 303 East 51st Street, killing seven pedestrians and injuring more than two-dozen others.
The site was shut down after the accident and languished for years on the corner of Third Avenue. However, construction has resumed under new ownership and a new site plan. HFZ Capital, led by Ziel Feldman, took over the site at auction and is working on a new development plan with funding from CIM Group.
Crane operator William Rapetti was acquitted in 2010 of manslaughter charges in the crane-related deaths, but he did lose his license to operate a crane in New York.
Neither Kennelly nor HSBC were not immediately available for comment.