Manhattan, NY Global Holdings has completed the $190 million refinancing of Anagram Columbus Circle, the firm’s luxury residential tower located at 1 West 60th St., near Central Park and Billionaire’s Row. J.P. Morgan served as the agent and provided the loan along with Sumitomo Mitsui Trust Bank. The loan was structured as a first-mortgage refinancing.
Brooklyn, NY Arrow Real Estate Advisors has arranged a $220 million permanent refinance on behalf of The Loketch Group, Joyland Group, and Meral Property Group for two newly developed, adjacent multifamily properties, Lorimer House and Copper Lofts, located at the corner of Lorimer St. and Bdwy.
Albany, NY Pyramid Management Group, one of the largest shopping center developers in the Northeast, has secured a new five-year, $193 million CMBS loan package on Crossgates Mall. This new loan will allow Pyramid
West Henrietta, NY Arrow Real Estate Advisors arranged a $46 million refinance for The Marshall at Rochester, a Class A student housing community located at 3948 East River Rd. The financing was secured on behalf of Aptitude Development, a national
Buffalo, NY Ned Perlman of Largo Real Estate Advisors, Inc. secured $10.6 million in construction financing for the redevelopment of a mixed-use property
Levittown, PA Neal Colligan, principal at Largo Capital, Inc., arranged a permanent first mortgage to refinance the existing debt on Country Manor Apartments, a 200-unit multi-family property, a suburb positioned between
Manhattan, NY Avison Young arranged a $147 million first mortgage refinancing of 255 Greenwich St., a 600,000 s/f Class A office building with ground floor retail and parking in Tribeca, on behalf of an affiliate of Jack Resnick & Sons. The 14-story property was developed in 1987 by Jack Resnick & Sons, which was founded in 1928 and now spans three generations
Brooklyn, NY GFI Realty Services closed a $40 million acquisition loan for 1501 Voorhies Ave., formerly known as Avalon Brooklyn Bay and rebranded by the buyer as Aqualina New York, located in the Sheepshead Bay neighborhood. The financing was secured through OceanFirst Bank and arranged by Daniel Lerer
Manhattan, NY Fried Frank advised SL Green Realty Corp. (SL Green), and its joint venture with PGIM Real Estate, in connection with the completion of a $1.4 billion, five-year, fixed-rate refinancing of 11 Madison Ave., a 2.3 million s/f office tower in Midtown South. The new mortgage replaces the
The act of borrowing money itself in a self-directed IRA is not a taxable event. However, using borrowed funds (debt financing) to acquire or improve rental properties can subject the IRA to taxes on unrelated debt-financed income (UDFI), which is a form of unrelated business taxable income (UBTI). This means
Manhattan, NY AANDAR Real Estate Capital has closed three transactions totaling nearly $50 million within four weeks, spanning three asset classes and capital structures across the U.S. “These closings capture exactly what defines AANDAR — precision, creativity,