June 28, 2017
BLDG Management took out a $60-million loan for The York, an apartment building on Manhattan’s Upper East Side.
“The York’s desirable location and various amenities attracts a wide range of home seekers, and given the client’s impressive portfolio and reputation, we were able to achieve a favorable structure and full-term interest-only payments,” said Carol Shelby, managing director for Meridian Capital Group, which arranged the financing.
The 10-year loan, provided by a life insurance company, features a fixed rate of 3.73%. The York is a 13-story building with 233 apartments, located at 435 E. 79th St.
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