Newmark Arranges $280M Refi for Vanbarton Apartments
Newmark has arranged a $280-million loan on behalf of owner and developer Vanbarton Group to refinance the Quincy and Hollingsworth, two vertically integrated, highly amenitized Class-A multifamily properties comprising 455 units in Midtown Manhattan.
The financing was secured from Invesco by Newmark co-head of Global Debt & Structured Finance Jordan Roeschlaub, vice chairman Christopher Kramer, director Chris Lozinak and senior associate Capri Van Gilder, in collaboration with co-head of U.S. Capital Markets Adam Spies and executive vice chairman Adam Doneger.
Located at 980 Sixth Ave. and 70 W. 37th St., respectively, Quincy and Hollingsworth consist of luxury market-rate multifamily units, 8,600 square feet of ground-floor retail and 120 parking spaces. The unit mix ranges from studios to expansive two-bedroom layouts, all featuring high-end finishes and contemporary design. The properties feature bespoke amenities including a landscaped rooftop terrace at Hollingsworth, luxury fitness studios, 24-hour doormen, co-working spaces and reservable resident lounges.
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312-Unit Multifamily in Indiana Changes Hands
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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