Gotham Organization's David L. Picket Refinances 11 Multfamily Properties In Hell's Kitchen For $460M

The assets involved in this transaction are multifamily properties located at 550 West 45th Street and 530 West 45th Street in Hell’s Kitchen, Manhattan, comprising a total of 898 units. The refinancing transaction involved a loan amount of $460,000,000 from NYS Housing Finance Agency, which is aimed at replacing an existing loan of $520,000,000 from the same lender.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $460,000,000
• Lender: NYS Housing Finance Agency
• Landlord: David L. Picket - Gotham Organization
• Units: 898
• Previous Loan Amount: $520,000,000

The deal was facilitated by David L. Picket from Gotham Organization, who positioned the company for this refinancing, thereby maintaining financing continuity with the NYS Housing Finance Agency across multiple properties in the Hell’s Kitchen area.