Richard Scharf Of Abro Management Refinances Multifamily Property At 111-09 76th Road For $7.2M

The property asset involved in the transaction is a multifamily residential building located at 111-09 76th Road in Forest Hills, Queens. The asset encompasses a total square footage of 53,455 and consists of 60 units. The refinance was secured for a total amount of $7.2 million.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $7,200,000
• Address: 111-09 76th Road
• Market: Forest Hills, Queens
• Units: 60
• Lender: J.P. Morgan Chase
• Landlord: Richard Scharf - Abro Management
• Loan Type: Refinance

This transaction highlights the involvement of Abro Management, with Richard Scharf representing the landlord in the refinancing deal with J.P. Morgan Chase, facilitating the financing of the 60-unit residential building.