SMA Equities Secures $70.6M Refinancing Loan For Gramercy Multifamily Property

SMA Equities, under entity 299 3rd Development, LLC, secured a $70.6 million refinancing loan from JLL Real Estate Capital for the 108-unit residential elevator building at 397 Third Avenue in Gramercy, Manhattan. The multifamily property spans across 80,912 square feet and consists of 108 units. The loan was obtained on January 5, 2024.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $70,635,000
• Address: 397 Third Avenue, Gramercy, Manhattan
• Market: Gramercy, Manhattan
• Lender: Rhonda D. Peare - JLL Real Estate Capital
• Landlord: Samy Mahfar - SMA Equities

The lender for this refinancing loan is Rhonda D. Peare from JLL Real Estate Capital. The landlord of the property is Samy Mahfar, representing SMA Equities as the owner. This loan will contribute to the continued development and management of the residential elevator building at 397 Third Avenue in Gramercy, Manhattan.