Frank Lalezarian Of Lalezarian Properties Secures $65 Million Refinance Loan From TD Bank

The property involved in this transaction is a multifamily residential building located at 650 1st Avenue in Murray Hill, Manhattan. The asset encompasses a total of 104,602 square feet and includes 111 units, with a building square footage of 115,890. A refinancing loan of $65,000,000 has been secured to replace the prior loan of $50,000,000 facilitated by the same lender, TD Bank.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $65,000,000
• Address: 650 1st Avenue
• Market: Murray Hill, Manhattan
• Asset Square Footage: 104,602
• Units: 111
• Building Square Footage: 115,890
• Lender: TD Bank
• Landlord: Frank Lalezarian - Lalezarian Properties
• Loan Type: Refinance

In this transaction, Frank Lalezarian represents Lalezarian Properties as the landlord negotiating the refinancing with TD Bank. The deal involved a strategic decision to increase financing while consolidating previous loans, allowing for potential future investments or improvements to the property portfolio.