Igal Namdar Of Namdar Realty Group And Josh Rahmani, Ehbi Kahlili, Aaron Bergman Of Empire Capital Holdings Close $93.5M Financing For Office-to-Multifamily Conversion In Midtown East

The property asset involved in this transaction is located at 830 3rd Avenue within the Midtown East market. This asset is part of an office-to-multifamily conversion project with a total of 188 units. The transaction secured a construction loan amounting to $93,500,000.

Summary of transaction details:

• Property Type: Office-to-Multifamily Conversion
• Transaction Amount: $93,500,000
• Address: 830 3rd Avenue
• Market: Midtown East
• Units: 188
• Lender: Chris Harris - Deutsche Bank
• Sponsors: Igal Namdar - Namdar Realty Group; Josh Rahmani, Ehbi Kahlili & Aaron Bergman - Empire Capital Holdings
• Advisors: Marko Kazanjian, Max Herzog, Maxwell Hulsh & Andrew Cohen - Institutional Property Advisors (IPA)

The key individuals involved in this deal include sponsors Igal Namdar from Namdar Realty Group and Josh Rahmani, Ehbi Kahlili, and Aaron Bergman from Empire Capital Holdings. Additionally, the advisory role was filled by Marko Kazanjian, Max Herzog, Maxwell Hulsh, and Andrew Cohen from Institutional Property Advisors (IPA).