Abro Management Refinances 90-Unit Multifamily Building In Lenox Hill, Manhattan For $20.9M With JPMorgan Chase

Abro Management has refinanced their 90-unit residential elevator building located at 1453 York Avenue in Lenox Hill, Manhattan. The property was sold by JPMorgan Chase for $24.5 million to Abro Management, who later refinanced the property for $20.9 million with JPMorgan Chase. The property is a multifamily asset with 90 units and is situated in the Lenox Hill market in Manhattan.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $20,865,000
• Address: 1453 York Avenue, Lenox Hill, Manhattan
• Market: Lenox Hill, Manhattan
• Units: 90

The lender for the refinancing deal is JPMorgan Chase, represented by Jennifer Smith. Meanwhile, Abro Management, led by Richard Scharf, serves as the landlord of the property. The property, owned by Martin Scharf and Richard Scharf through their business entity, 77 Realty LLC, generates $3.2 million in revenue.