Laub Realty & Eastgold Holdings Refinance Mixed-Use Property In Upper West Side For $95M

The Beaux Arts-style property located at 261-275 Amsterdam Ave in the Upper West Side of New York has recently undergone a $95 million loan refinance. The loan, provided by Morgan Stanley, featured a fixed rate of 3.55% and a ten-year term with full-term, interest-only payments. The property, constructed in 1905, spans 12 stories and consists of 134 units. In addition, it includes approximately 20,837 square feet of at-grade retail space with national tenants such as Chipotle and Capital One.

Summary of Transaction Details:

• Property Type: Mixed-use
• Transaction Amount: $95,000,000
• Date: 04/27/2021
• Address: 261-275 Amsterdam Ave.
• Market: Upper West Side, NY
• Landlord: Laub Realty & Eastgold Holdings
• Borrower: Not mentioned
• Lender: Morgan Stanley
• Brokers: Bryan Manz, Brandon Harris, & Phil Bowman of Black Bear Capital Partners

Black Bear Capital Partners, a prominent real estate finance firm, has been involved in numerous financings, including this loan, which highlights their nationwide presence and ability to provide capital in various markets. With extensive experience in the industry, Black Bear Capital Partners continues to expand its team to meet the growing demands brought about by the real estate dislocations caused by the pandemic.