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Morgan Stanley Provides $32.8 Million Refinance Loan For Moinian Group's Flatiron Properties
FINANCED
$32,800,000
New York
See Similar DealsMultiFamily
Financed 10/07/2025
FINANCED
Morgan Stanley Provides $32.8 Million Refinance Loan For Moinian Group's Flatiron Properties
37 West 17th Street, 53 West 21st Street & 29 West 17th Street
See Similar DealsMultiFamily
Financed 10/07/2025
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
The transaction involves refinancing a multifamily asset consisting of four properties located at 37 West 17th Street, 53 West 21st Street, and 29 West 17th Street in the Flatiron District of Manhattan. The properties encompass a total of 140,440 buildable square feet, with a loan amount of $32,800,000 secured from Morgan Stanley.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $32,800,000
- Asset Size: 140,440 buildable square feet
- Address: 37 West 17th Street, 53 West 21st Street & 29 West 17th Street
- Market: Flatiron District, Manhattan
- Lender: Morgan Stanley
- Landlord: Joseph Moinian - The Moinian Group
- Loan Type: Refinance
Joseph Moinian represents The Moinian Group in this refinancing deal, procuring funds from Morgan Stanley to support the multifamily assets in the transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$32,800,000.00
Monthly NOI$218,666.67
Monthly Debt Service$207,318.31
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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