The property at 685 1st Avenue is a multifamily asset located in the Murray Hill market, with a valuation of $450,000,000. This property was refinanced, reflecting a 16% increase from its 2022 purchase price. The refinance and recapitalization involved a loan amount of $240,000,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $450,000,000
• Loan Amount: $240,000,000
• Lender: Marc Jeffrey Rowan - Apollo Global Management; Shemara Wikramanayake - Macquarie Capital; Scott Rechler - RXR Realty
• Landlord: Meyer Orbach & Josh Gotlib - Go Partners
• Brokerage Team: Adam Doneger, Adam Spies, Jordan Roeschlaub & Nick Scribani - Newmark

The deal highlighted the roles of prominent lenders and brokers. Marc Jeffrey Rowan from Apollo Global Management, Shemara Wikramanayake from Macquarie Capital, and Scott Rechler from RXR Realty were instrumental in the financing process. The brokerage team from Newmark, including Adam Doneger, Adam Spies, Jordan Roeschlaub, and Nick Scribani, facilitated the transaction.