Algin Management Secures $325 Million Refinance Loan From New York Life Insurance Company

The asset involved in this transaction comprises six Manhattan residential properties, specifically located at 300 Mercer Street, 200 East 33rd Street, and 229 West 60th Street. The multifamily properties encompass a total square footage of 1,374,342 and consist of 1,320 residential units.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $325,000,000
• Lender: New York Life Insurance Company
• Landlord: Liane Ginsberg, Laurence Ginsberg & Hilary Feshbach - Algin Management
• Loan Type: Refinance

This financing arrangement was executed by Algin Management, who holds ownership of the properties in question. The refinance was facilitated through a loan obtained from New York Life Insurance Company, highlighting the engagement between the lending institution and the management company overseeing the residential units.