Updated Sep 16, 2026
JRC Management's Richard Podpirka Secures $35M Refinance From Citibank For MultiFamily Buildings
140 East 7th Street, 144 East 7th Street & 150 East 7th Street
$35,000,000
$121/SF
Building Size
96,055 SF
Asset Type
MultiFamily
Closing
Sep 2, 2026
About this deal
AI
The transaction involves three residential buildings located at 140 East 7th Street, 144 East 7th Street, and 150 East 7th Street in the Alphabet City neighborhood of Manhattan, totaling a square footage of 96,055. The properties consist of 197 residential units and were refinanced for an amount of $35,000,000.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $35,000,000
- Address: 140 East 7th Street, 144 East 7th Street & 150 East 7th Street
- Market: Alphabet City, Manhattan
- Asset Square Footage: 96,055
- Lender: Citibank
- Landlord: Richard Podpirka - JRC Management
- Loan Type: Refinance
JRC Management, represented by Richard Podpirka, secured refinancing from Citibank for the three properties through JRC Realty LLC, facilitating the financial arrangement for the residential buildings in Manhattan.
On the Map
$35,000,000
$121/SF
MultiFamily
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New York MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93