Updated Sep 11, 2026
Zaka Investments Refinances Lincoln Square Single Family Property With $34M Loan
48 W 69th St New York, NY 10023, USA
$34,000,000
$2,469/SF
Building Size
13,767 SF
Asset Type
Single Family Residence
Closing
Apr 28, 2023
About this deal
AI
Erzuli, LLC, owned by industrialist Pierre Bastid's family office Zaka Investments, signed a refinance loan of $34 million with Spice Capital Partners for a residential walkup building located at 48 West 69th Street in Lincoln Square, Manhattan. The property has a total of 13 residential units and spans a size of 13,767 square feet. The building also has an additional 2,916 square feet of air rights and is zoned as R8B, allowing for up to 4 times floor area ratio for residential use. The city-designated market value of the property is $3.4 million.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $34,000,000
- Market: Lincoln Square, Manhattan
- Address: 48 West 69th Street
- BSF: 16,664
- SF: 13,767
Spice Capital Partners, represented by Irene Epskamp, provided the $34 million refinance loan to Erzuli, LLC. Zaka Investments, represented by Pierre Bastid and Lawrence E. Fabian, serves as the landlord for the property.
On the Map
$34,000,000
$2,469/SF
Single Family Residence
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.47%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93