
Manhattan, NY Alec Feintuch of Refined arranged financing for two properties located in New York.
The transaction featured $4.75 million in permanent financing for a commercial property located in Manhattan. The deal included a 15-year term, step down prepay for the first five years, as well as a 30-year amortization schedule. The deal also featured a competitive interest rate.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,