Stellar Management Secures $68M Refinance Loan For 244-Unit Multifamily In Upper West Side

The property involved in this transaction is a multifamily asset located at 50 West 97th Street in the Upper West Side market. It spans a total of 236,000 square feet and comprises 244 units. The property is owned by Stellar Management, represented by Matthew Lembo and Pawan Melgiri, and the lender for this transaction is Helaba, with Jason Deck serving as their representative.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $68,000,000
• Square Footage: 236,000
• Units: 244
• Lender: Helaba - Jason Deck
• Landlord: Stellar Management - Matthew Lembo & Pawan Melgiri

This refinancing deal involves key individuals and companies such as Jason Deck from Helaba and Stellar Management represented by Matthew Lembo and Pawan Melgiri. The loan amount for this transaction is $68,000,000. The refinance loan will provide the necessary funds for the property's continued operations and potential improvements. It is noteworthy that the property is located in the thriving Upper West Side market, offering potential for long-term profitability and growth.