The property asset involved in this transaction is located at 294 East Houston Street in the East Village market. It is classified as a multifamily property with a total square footage of 8,004. The asset was purchased last year for $7.8 million and underwent a building-wide gut renovation, leading to an appraisal just below $11 million one year later.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $6,435,000
• Loan Type: Refinance
• Lender: FBNJ
• Landlord: Jeremey Tahari & Adam Croman - Tahari Capital
• Broker Representatives: Jaden Lander & Jack Basora - Tahari Realty

The financing for this deal was arranged by the capital advisory group at Tahari Realty, which is affiliated with the landlord, Tahari Capital. The leasing team at Tahari Realty notably achieved record rental rates for the property, which facilitated a substantial cash-out refinance. Notably, Adam Croman serves as Partner and COO at Tahari Capital, while Jack Basora is a Licensed Real Estate Salesperson at Tahari Realty.