Azimuth Development Group Secures $3.55M Cash Out Refinance Loan For 316 E 91st Street Retail Property In Yorkville With Layla Capital Lending

Located in the Yorkville neighborhood, the property at 316 E 91st Street is a retail asset that recently underwent a closed transaction. The deal was facilitated by Layla Capital Lending, represented by Justin Cooper, providing a loan amount of $3,550,000. The loan was obtained through a cash-out refinance, which served the purpose of a partner buyout and tenant improvements. Notably, all funds were released at closing, making it a seamless transaction that took place on Christmas Eve.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $3,550,000
• Lender: Layla Capital Lending, represented by Justin Cooper
• Landlord: Azimuth Development Group, represented by Guido Subotovsky
• Brokers: Matt Dzbanek and Matt Swerdlow

The involvement of notable individuals and companies in this transaction further highlights its significance. Matt Dzbanek and Matt Swerdlow, along with Ariel PA NYC, acted as brokers in the deal. While Layla Capital Lending, led by Justin Cooper, provided the loan, Azimuth Development Group, represented by Guido Subotovsky, served as the landlord. The cash-out refinance allowed for a partner buyout and tenant improvements, showcasing the flexibility and effectiveness of this financing strategy.