New York Community Bank Provides $35.6M Refinance Loan On Washington Heights & Midtown Multifamily

The recently closed transaction involved the refinancing of a multifamily property located at 226 East 53rd Street and 615, 640, and 660 Ft Washington Avenue. The property is situated in the Washington Heights and Midtown markets, offering a total square footage of 192,988. The property comprises 190 units, making it a significant investment in the area.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $35,600,000
• Address: 226 East 53rd Street & 615, 640 & 660 Ft Washington Avenue
• Market: Washington Heights & Midtown
• Lender: New York Community Bank
• Landlord: Empire Management

New York Community Bank provided a loan of $35,600,000 to assist with the refinancing of the property. Empire Management, the landlord, played a significant role in negotiating and finalizing the deal. This transaction demonstrates the continued investment and development in the Washington Heights and Midtown areas.