Bethpage Federal Credit Union Closes $62.25M Refinance Loan For Haruvi Portfolio

The Haruvi Portfolio, consisting of multiple properties located at 114 East 71st Street, 244 West 74th Street, 1107-1109 First Avenue, 404-424 West 56th Street, 309-315 West 54th Street, 448-452 West 57th Street, and 219-223 East 32nd Street, has recently undergone a $62,250,000 refinance. The multifamily asset spans over 330,000 square feet and comprises a total of 508 units. The properties are situated in sought-after neighborhoods such as the Upper West Side, Upper East Side, Murray Hill, and Midtown West.

Summary of Transaction Details

• Property Type: Multifamily
• Transaction Amount: $62,250,000
• Loan Type: Refinance
• Lender: Bethpage Federal Credit Union
• Landlord: PH Realty Capital - Peter Hungerford, Abe Haruvi & Arthur Haruvi
• Broker: Nate Hyman - Polaris Funding

As part of the loan transaction, PH Realty Capital, represented by Peter Hungerford, Abe Haruvi, and Arthur Haruvi, has signed a contract to purchase the properties and assume all management responsibilities. The highly skilled team at Polaris Funding, led by broker Nate Hyman, successfully navigated the complexities of this low-leverage loan, ensuring a smooth finalization of the refinance deal.