Natixis Leads $233M Refi of Midtown Residential Tower
Natixis Corporate & Investment Banking led a $233.3-million floating-rate financing to a joint venture between a global investment firm and Stonehenge Investment to refinance The Ritz Plaza, a 45-story luxury multifamily rental building located at 235 W.48thth St. in Midtown West. The financing was arranged by Lawrence Britvan and Michael Straw from the New York City office of CBRE.
The Ritz Plaza contains 479 residential units and ground-floor commercial space, including La Masseria restaurant. Originally built in 1990, the property has undergone substantial renovations since 2019.
“Our investment in The Ritz Plaza reflects Stonehenge’s conviction in New York City residential real estate and our focus on creating value through disciplined investment and active asset management,” said Ofer Yardeni, chairman and CEO of Stonehenge Investment. “We are pleased to complete this refinancing with Natixis and appreciate the confidence it demonstrates in The Ritz Plaza and the Stonehenge platform.”
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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
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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