Lawrence Movtady Of Movcap Secures $7.525M Refinance Loan From Genesis Capital For Multifamily Asset

The property asset involved in this transaction is a multifamily building located at 211 West 85th Street in Manhattan. It encompasses a total square footage of 13,015, comprising 13 units. The loan amount secured for this property is $7,525,000 as part of a refinance deal.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $7,525,000
• Address: 211 West 85th Street
• Market: Manhattan
• Square Footage: 13,015
• Units: 13
• Lender: Genesis Capital
• Landlord: Lawrence Movtady - Movcap
• Broker: Max Ralby - Newmark
• Loan Type: Refinance

Lawrence Movtady serves as the landlord through Movcap, having purchased the property in February 2024 for $5.25 million. The repositioning of the asset since this acquisition has been noted as successful by Movcap.