Eli Weiss And Jorge Madruga Secure $55 Million Refinance Loan From Citigroup For Retail Property

The asset involved in this transaction is a retail property located at 405 East 59th Street in the Lenox Hill neighborhood of Manhattan. The property encompasses a total square footage of 90,000. The loan amount secured for this property is $55,000,000, which is being utilized for refinancing purposes.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $55,000,000
• Lender: Citigroup
• Landlord: Eli Weiss & Jorge Madruga - Maddd Equities
• Asset Square Footage: 90,000
• Market: Lenox Hill, Manhattan
• Loan Type: Refinance
• Previous Loan Amount: $42,500,000 from Lakeland Bank
• Tenants: Trader Joe’s, TJ Maxx, JOCO, and Guastavinos Hall

The refinancing was executed by Joseph Dyckman and his team at Citigroup for the joint venture between Joy Construction and Maddd Equities. No broker was involved in this transaction.