Martin Shapiro Refinances 81-Unit Building At 62 Avenue B With $46 Million Loan From Acore Capital

The property asset involved in this transaction is a multi-family building located at 62 Avenue B in East Village, Manhattan. The building encompasses a total square footage of 71,334. The transaction is characterized by a refinance loan amounting to $46,000,000, which has replaced prior debt from Morgan Stanley.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $46,000,000
• Address: 62 Avenue B
• Market: East Village, Manhattan
• Lender: Warren de Haan - Acore Capital
• Landlord: Martin Shapiro
• Loan Type: Refinance

The refinancing was executed by Martin Shapiro’s Liberty Toye 1 Corp., reflecting a strategic move in managing the financial obligations associated with the 81-unit building. Warren de Haan serves as the representative from Acore Capital for this transaction.