Rony Kravel Of Shel Capital Refinances East Village Multifamily Portfolio For $58.1M With JLL

The asset involved in this transaction consists of four walkup buildings located at 198 2nd Avenue, 208 East 6th Street, and 306 East 5th Street in the East Village, Manhattan. The buildings encompass a total square footage of 79,821 and comprise 125 multifamily units. The transaction was a refinance arrangement with a loan amount of $58,100,000, resulting in a valuation of approximately $727 per built square foot.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $58,100,000
• Loan Type: Refinance
• Lender: JLL
• Landlord: Rony Kravel - Shel Capital

This transaction reflects the refinancing efforts by Shel Capital, led by landlord Rony Kravel, to replace $33,000,000 in prior debt from Israel Discount Bank. The new loan from JLL Real Estate Capital strategically positions the assets for future financial management.