Affinius Loan Will Finance Completion of Murray Hill Apartments
Affinius Capital LLC closed on a $115-million loan to refinance 162 E. 36th St., a 22-story, Class A multifamily project in Manhattan’s Murray Hill neighborhood. The loan was made to Ranco Capital and the Gilardian Family, and the proceeds will be used to complete the remaining construction and stabilize occupancy. The financing was arranged by Henry Bodek of Galaxy Capital.
Perry Katz, SVP of Affinius, said, “162 E. 36th St. is a premier asset in Murray Hill that addresses a clear gap for high-quality rental housing in Manhattan. This financing aligns with our strategy of backing multifamily assets in marquee markets with favorable supply and demand dynamics.”
162 E. 36th St. is a luxury apartment building comprising 87 studios, 46 one-bedrooms and 27 two-bedrooms. It will include 3,700 square feet of ground-floor retail. The property’s Murray Hill location offers access to Midtown’s employment hub, Grand Central Terminal, entertainment options and various neighborhood amenities.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout