CBRE secures REFI for five building portfolio consisting of 60 apartments and seven retail sites

Manhattan, NY CBRE secured a REFI loan for over $28 million for a portfolio of five residential properties totaling 60 apartments and seven retail units located in Midtown, Greenwich Village, and the Upper East and West Sides owned by Ed and Michael Ostad. The CBRE team of Shamir Seidman and Jeff Feldman arranged the financing on behalf of the borrower. 

“We are proud to have played a role in the refinancing of the Ostad portfolio,” said Seidman. “Four of the buildings were purchased in 2024 and underwent a remarkable value-add execution and value creation, which allowed the sponsor to do a cash-out refinance in a short period of time.”

The portfolio includes 301 East 90^th St., 714 Greenwich, 723 11^th Ave., 746 9^th Ave., and 407 Amsterdam.