Laurence Gluck's Stellar Management Refinances Turtle Bay Multifamily At 301-303 East 47th Street For $110M

The property asset involved in this transaction is a multifamily building located at 301-303 East 47th Street in Turtle Bay, Manhattan. The total square footage of the building is 290,001 and it features 251 residential units.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $110,000,000
• Address: 301-303 East 47th Street
• Market: Turtle Bay, Manhattan
• Lender: Marc Rowan - Apollo Global Management
• Landlord: Laurence Gluck - Stellar Management
• Loan Type: Refinance

This refinance deal involved Stellar Management, through Embassy House Eat LLC, replacing an existing debt of $115.6 million from Flagstar Bank with a new loan from Apollo Global Management’s Athene Annuity And Life Company. The transaction highlights the ongoing financial activity associated with multifamily properties in the Manhattan area.