The United Nations Development Corporation secured a $365 million renovation loan from Bank of New York Mellon for two Turtle Bay office properties: 323 East 44th Street and a condo at 787 First Avenue. Together, the properties span 978,202 square feet, valuing the loan at $373 per square foot. The buildings are owned by the City of New York and leased to UNDC, which in turn leases the land from the Bishop and Friedfertig families.
787 First Avenue
