crefeed.com | Luxury Manhattan multifamily high-rise refinanced for $94 million

1/16/2009

Luxury Manhattan multifamily high-rise refinanced for $94 million

by
Riverbank West, a 44-story luxury multi-family building in the Midtown West neighborhood in Manhattan, has been refinanced.

Holliday Fenoglio Fowler (HFF) arranged the $94 million financing for the high-rise at 560 W. 43rd St.

HFF worked on behalf of the borrower, advised by Cornerstone Real Estate Advisers, a subsidiary of Massachusetts Mutual Life Insurance Co., to secure the financing through a local New York bank. The four-year, fixed-rate loan has a five-year extension option.

Riverbank is 97 percent leased. It has 418 units, 25,738 square feet of retail space and an 84-space underground parking garage. Community amenities include a 24-hour doorman and concierge, business center, laundry facilities and a valet dry cleaning service. In addition, 86 percent of the units have balconies or terraces with views of Midtown and Downtown to the north, south and east and the Hudson River to the west.

Address: 560 W. 43rd St., New York, N.Y.

Size: 418 units

Filed Under: Multi-Family

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