MRR Development LLC Secures $200 Million Refinance Loan For Malabar Residences In Manhattan
FINANCED
$200,000,000
+ 1
New York
See Similar DealsCondo
Financed 06/02/2026
FINANCED
MRR Development LLC Secures $200 Million Refinance Loan For Malabar Residences In Manhattan
126 East 57th Street
See Similar DealsCondo
Financed 06/02/2026
+ 1
Summary
NEW YORK
Asset Type:Condo
Transaction Type:Loan
The asset involved in this transaction is a condominium located at 126 East 57th Street, known as Malabar Residences, situated in Manhattan. The property encompasses a total square footage of 200,000 and comprises 145 units. This transaction involves a refinance loan amounting to $200,000,000.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $200,000,000
- Market: Manhattan
- Lender: BHI - Gil Karni, CEO
- Landlord: MRR Development LLC - Anand Mahindra, Rotem Rosen & Zahi Hagag
- Landlord's Rep: Simon Ziff - Ackman-Ziff
- Loan Type: Refinance
The key individuals in this transaction include Gil Karni, the CEO representing BHI, and the landlords Anand Mahindra, Rotem Rosen, and Zahi Hagag from MRR Development LLC. Simon Ziff acted as the representative for the landlords, working under Ackman-Ziff, ensuring the transaction process proceeded effectively.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$200,000,000.00
Monthly NOI$1,333,333.33
Monthly Debt Service$1,264,136.05
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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