Stellar Management Refinances East Village Multifamily Property For $25.4M Loan

Located in the East Village neighborhood of New York City, the multifamily property at 223 Second Avenue has recently undergone a refinancing deal. Owned by Stellar Management, the building consists of 83 units and spans approximately 63,158 square feet. The transaction, which took place on April 15, 2022, involved a loan amount of $25,370,210.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $25,370,210
• Address: 223 Second Avenue, East Village
• Market: East Village
• Square Footage: 63,158
• Units: 83

The loan for this refinancing deal was provided by New York Community Bank. Serving as the lender, they facilitated the transaction for Stellar Management. This transaction represents an important financial step for the property and reinforces Stellar Management's commitment to maintaining and improving their multifamily asset in the East Village.