Brodsky refis 1 Columbus Place with $250M Wells Fargo loan

Financing covers 729-unit rental tower and adjacent school

One Columbus Place at 400 West 59th Street (inset: Daniel Brodsky)
One Columbus Place at 400 West 59th Street (inset: Daniel Brodsky)

The Brodsky Organization refinanced a 729-unit rental property and an adjacent school near Columbus Circle with a $250 million loan from Wells Fargo.

The family-run firm, headed by Daniel Brodsky, received an $81.19 million loan on the dual 49-story towers at 400 West 59th Street, also known as One Columbus Place, property records filed with city Wednesday show.

Brodsky also consolidated the balance on two existing loans, including $142.3 million outstanding on a loan the New York City Housing Development Corporation issued after the building was completed in 1997.

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The refinancing also covered the adjacent Speyer Legacy School at 925 Ninth Avenue. The school inked a lease in 2013 for 85,000 square feet across the two properties, 10 times the size of its previous location on the Upper West Side.

A representative for Brodsky was not immediately available for comment.

Daniel Brodsky was accused in January by tenants of being a “slumlord” for racking up hundreds of violations at his properties, according to the New York Post. The firm denied the charges and said it was working to perform repairs.