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980 6th Avenue

Vanbarton Group Refinances 980 6th Avenue Multifamily In Manhattan With $224M Loan From Invesco
FINANCEDMultiFamily

Vanbarton Group Refinances 980 6th Avenue Multifamily In Manhattan With $224M Loan From Invesco

980 6th Avenue

$224,000,000

$579/SF

Building Size

386,382 SF

Asset Type

MultiFamily

Closing

Oct 15, 2025

AI

A multifamily residential building located at 980 6th Avenue in Manhattan's Garment District spans 386,382 square feet and comprises 380 units. The property has undergone refinancing for a loan amount of $224,000,000, which has replaced a prior loan of $244.6 million from Blackstone.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $224,000,000
  • Address: 980 6th Avenue
  • Market: Garment District, Manhattan
  • Lender: Andrew R. Schlossberg - Invesco
  • Landlord: Gary M. Tischler - Vanbarton Group
  • Units: 380
  • Prior Loan Amount: $244,600,000

The refinancing was executed by Vanbarton Group, represented by Gary M. Tischler, while the lending side was handled by Andrew R. Schlossberg from Invesco, facilitating this significant financial transaction in the multifamily sector.

Players

Invesco
InvescoLender
Vanbarton Group
Vanbarton GroupLandlord

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.07%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93