Fortress Investment Group And Slate Property Group Refinance 90-Unit Multifamily At 231 East 76th Street For $43.9M

The asset involved in the transaction is a multifamily property located at 231 East 76th Street in Lenox Hill, Manhattan. The property comprises 90 units and has undergone refinancing with a loan amount of $43,900,000. The loan was obtained from New York Life Insurance Company, replacing prior debt of $39,700,000 from Prime Finance.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $43,900,000
• Address: 231 East 76th Street
• Market: Lenox Hill, Manhattan
• Lender: New York Life Insurance Company
• Landlord: Drew McKnight & Joshua Pack - Fortress Investment Group; Martin Nussbaum & David Schwartz - Slate Property Group
• Prior Debt: $39,700,000 from Prime Finance

The transaction features key individuals and companies, specifically Drew McKnight and Joshua Pack representing Fortress Investment Group, along with Martin Nussbaum and David Schwartz from Slate Property Group. They facilitated the refinancing of their multifamily property, indicating strategic financial management in the current market landscape.