Avi Lieberman Of IDB Bank Refinances $30 Million Loan For Tay Investments In Newark

The property asset involved in this transaction is a multifamily development known as The Art of Newark, located at 44 Irvine Turner Boulevard in Newark. This residential development comprises 155 units and encompasses a total square footage of 195,535. The recent refinancing for this property was executed at a loan amount of $30 million.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $30,000,000
• Units: 155
• Square Footage: 195,535
• Lender: Avi Lieberman - IDB Bank
• Landlord: Tay Investments
• Broker: Drew Fletcher - Greystone
• Loan Type: Refinance

The refinancing was led by Avi Lieberman, who is the Head of New York Commercial Real Estate at IDB Bank, along with Ryan Shay, Associate Relationship Manager. This refinancing demonstrates IDB Bank's continued support for Tay Investments, led by Yuval Shram, and reinforces their commitment to The Art of Newark within the Newark University Heights community.