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Go Partners Secure $525.1M Refinance Loan In Murray Hill
FINANCED
$525,100,000
New York
See Similar DealsMultiFamily1,845,656 SF
Financed 07/31/2025
FINANCED
Go Partners Secure $525.1M Refinance Loan In Murray Hill
616 1st Avenue & 626 1st Avenue
See Similar DealsMultiFamily1,845,656 SF
Financed 07/31/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$284
Total Square Footage:1,845,656 SF
Transaction Type:Loan
The Copper is a multifamily property located at 616 1st Avenue & 626 1st Avenue in the Murray Hill market of Manhattan. The asset encompasses a total square footage of 922,828 and consists of 761 residential units. The property was refinanced with a loan amounting to $525.1 million from Arbor Realty Trust.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $525,100,000
- Address: 616 1st Avenue & 626 1st Avenue
- Market: Murray Hill, Manhattan
- Lender: Ivan Kaufman - Arbor Realty Trust
- Landlord: Joshua Gotlib & Meyer Orbach - Go Partners
- Loan Type: Refinance
Ivan Kaufman served as the representative of Arbor Realty Trust in the transaction, while Joshua Gotlib and Meyer Orbach represented Go Partners, the landlords of The Copper. The refinancing reflects strategic financial management for the ownership, facilitating continued operation and enhancement of the multifamily asset.
Players
LENDER
LANDLORD
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$525,100,000.00
Monthly NOI$3,500,666.67
Monthly Debt Service$3,318,989.19
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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