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Gordon Property Group Secures $50 Million Refinance Loan From Robert Barry Of M&T Realty Capital

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FINANCED
$50,000,000

New York

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MultiFamily
Financed 06/05/2025
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Property Image
FINANCED

Gordon Property Group Secures $50 Million Refinance Loan From Robert Barry Of M&T Realty Capital

152 East 87th Street

See Similar Deals
MultiFamily
Financed 06/05/2025
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan

The asset involved in this transaction is a multifamily property located at 152 East 87th Street in the Carnegie Hill neighborhood of Manhattan. The property consists of 56 units and is a candidate for refinancing. The loan amount secured in this transaction is $50,000,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $50,000,000
  • Lender: Robert Barry - M&T Realty Capital Corporation
  • Landlord: Gordon Property Group
  • Loan Type: Refinance

This transaction was characterized by a highly competitive refinance opportunity, with M&T Realty Capital Corporation emerging as the successful lender among various life companies and debt funds. Freddie Mac played a role in providing a competitively priced fixed-rate loan, reflecting its capacity to compete in the Class-A apartment segment.

Players

M&T Realty Capital Corporation
M&T Realty Capital Corporation
LENDER
GG
Gordon Property Group
LANDLORD
M&T Realty Capital Corporation
M&T Realty Capital Corporation
ORIGINATOR

Details

FINANCED
IMAGE: Robert Barry DATE: 6/6/2025 ADDRESS: 152 East 87th Street MARKET: Carnegie Hill, Manhattan ASSET TYPE: Multifamily ~ UNITS: 56 LENDER: Robert Barry - M&T Realty Capital Corporation LANDLORD: Gordon Property Group (@GordonProptyGrp) LOAN AMOUNT: $50,000,000 LOAN TYPE: Refinance NOTE FROM LENDER: The refinance opportunity was highly competitive, with M&T RCC emerging as the lender among a field of life companies and debt funds. Freddie Mac provided a competitively priced fixed-rate loan. This transaction highlights Freddie Mac's ability to compete in the Class-A apartment space. “Our integrated approach and deep understanding of the NYC multifamily market allowed us to deliver a tailored financing solution that met the client’s long-term goals,” said Barry. “This deal and structure show that agency financing can be competitive for Class A assets, in strong multifamily markets, for strong borrowers.”

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$50,000,000.00

Monthly NOI$333,333.33
Monthly Debt Service$316,034.01
Change in Cash Flow$0.00
Refinance Proceeds$0.00