Updated Nov 26, 2025
Michael Chetrit Of The Chetrit Organization Secures $714M Loan From Rialto Capital For Multifamily Properties
305 East 86th Street & 160 East 88th Street
$714,000,000
Units
804
Asset Type
MultiFamily
Closing
Nov 6, 2025
About this deal
AI
The transaction involves a multifamily asset located at 305 East 86th Street (Yorkshire Towers) and 160 East 88th Street (Lexington Towers) in the Manhattan market, comprising a total of 804 units. The loan amount for this transaction was $714,000,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $714,000,000
- Lender: Rialto Capital
- Landlord: Michael Chetrit / The Chetrit Organization
- Landlord's Representative: Robert Verrone & Anthony D'Amelio - Iron Hound Management Company
Key individuals involved in this transaction include Michael Chetrit, representing The Chetrit Organization, and brokers Robert Verrone and Anthony D'Amelio from Iron Hound Management Company, who represented the landlord in securing the financing for the properties.
On the Map
$714,000,000
MultiFamily
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Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.02%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93