Major Manhattan estate that is real has literally declined over the past year.
Hotel owners took out many of the biggest loans in Manhattan last month, with both condos and rental properties filling the list.
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Island vacation | $76.5 million
AJ Capital Partners acres capitalincluding $17.6 million in new funding secured by Roosevelt Island’s only hotel, GraduateA loan to 22 North Loop Road replaced that loan from a good investment fund managed by AJ Capital. The resort has 224 guest rooms along with his 3,600 sq ft of meeting space.
Take 5th | $40 million
The Korein family members’ Omnispective Management secured a $40 million loan, including $20 million in new funding, for 608 Fifth Avenue. Apple Bank for SavingsThe 144,000 foot that is square building on the corner of 49th Street near Rockefeller Center houses 40,000 square feet of retail.Bornado Realty Trust walked away From the ground lease of the building in 2020 after bankrupt retailer Topshop closed its flagship store the year before. The funds replaced debt held by the Metropolitan Commercial Bank.
Sunny day, eh? | | $33 million
Canadian Executive Group Development received $33 million. City Private Bank, For the purpose of refinancing Executive Hotel Le Soleil, a subsidiary of Citigroup, 38 West 36th Street Located in Midtown South. This loan replaced a debt from US Bank.
Beachhead of Normandy | Stock Photo Beachhead of Normandy $30 million
Ogden Cap Property Landed $30 million From JPMorgan Chase to refinance the Normandy Court Complex, a 383-unit home that is multi-family at 205 East 95th Street, Yorkville. This loan replaced debt held by Bank of brand new York Mellon. Repairs for the façade, costing an estimated $one million, were authorized by the Department of Buildings in
Take june me to church | $20 millionRCG long viewSecures $20.3 million from Ekstein Development
Refinancing of a condominium conversion project at 140 west Street that is 81st on Upper West Side. Your panels converts a church that is two-story five residential condominiums of his about 18,000 square feet and sells for his $43 million. This funding replaced Joshua Crane’s loan from his S3 Capital. Modlin Group is a distributor. Eckstein purchased this church in 2016 for $6.7 million.
Gramercy Green | $18 millionHirschmark CapitalSuzuki Capital received $18 million
Debt refinancing of an condominium that is 11-unit 327 East 22nd Street in Gramercy Park. A loan replaced this debt from G4 Capital. The building sell-out target is $38 million.
Includes $7.2 million in new funding to refinance debt at 287 Broadway in Tribeca. Influenced by Italian and French architectural styles, his cast-iron that is six-story building a designated landmark and covers his 13,500 sq ft. A loan was replaced by this money from the Israel Discount Bank in New York. Once dubbed the ‘Tilted Landmark’ due to its flaws that are structural the house will undergo restoration operate in 2021. United American Land purchased this building for his $8 million in 2013.
Chelsea & Chase | $12.5 millionJP Morgan ChaseThe Brodsky Organization has landed $12.5 million, including $2.5 million in new funding. 208 West 23rd Street to refinance Carteret, a 262-unit pre-war home that is multi-family*) at Chelsea. This loan replaced debt held by M&T Bank.
Lower East Side JV | $11 million
Niantic Partners and RA Cohen & Associates Joint Venture Secured $11.25 million We refinanced 157 Suffolk Street, a 35-unit building that is rental the reduced East Side, from First Republic Bank. Samkle North Miami Properties was the lender that is previous
East Village Rental | $11 million
Henry Moses Jr. received $11 million. JP Morgan Chase Refinancing of 213 East Fourth Street, a 28-unit building that is rental the East Village. Jamie Dimon’s bank has replaced Banco Santander as lender.