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

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FINANCED
$46,000,000
WH
MS

New York

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MultiFamily71,334 SF
Financed 08/08/2025
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Property Image
FINANCED

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

62 Avenue B

See Similar Deals
MultiFamily71,334 SF
Financed 08/08/2025
WH
MS
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$644
Total Square Footage:71,334 SF
Transaction Type:Loan

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.

Players

WH
Acore Capital
Warren de Haan
5 deals$344.6M volume
LENDER
Acore Capital
Acore Capital
LENDER
MS
Martin Shapiro
3 deals$184M volume
LANDLORD

Details

FINANCED
IMAGE: Warren de Haan DATE: 08/08/2025 ADDRESS: 62 Avenue B MARKET: East Village, Manhattan ASSET TYPE: MultiFamily ~ SF: 71,334 LENDER: Warren de Haan - Acore Capital LANDLORD: Martin Shapiro LOAN AMOUNT: $46,000,000 LOAN TYPE: Refinance NOTE: Martin Shapiro’s Liberty Toye 1 Corp. refinanced the 81-unit building at 62 Avenue B in the East Village with a $46 million loan from Acore Capital, replacing prior debt from Morgan Stanley.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$46,000,000.00

Monthly NOI$306,666.67
Monthly Debt Service$290,751.29
Change in Cash Flow$0.00
Refinance Proceeds$0.00