Torkian Group Secures $190 Million Refinance Loan From Barings For Yorkville Multifamily Property

The property asset involved in this transaction is a 128-unit residential building located at 1597 2nd Avenue in the Yorkville market of Manhattan. The asset has a total square footage of 215,608 and is part of a refinancing deal with a loan amount of $190,000,000. This transaction reflects an increase from a prior loan amount of $145,000,000.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $190,000,000
• Lender: Barings
• Landlord: Hersel Torkian
• Agency: Torkian Group
• Previous Loan Amount: $145,000,000

The key individuals involved in the deal include Hersel Torkian, representing the Torkian Group as the landlord. The refinancing through 83 Owners LLC is significant in terms of the capital structure of the property.