Black Bear Capital Partners (BBCP) arranged $95 million in permanent financing on behalf of Laub Realty to refinance 261-275 Amsterdam Ave., located on Manhattan’s Upper West Side of Manhattan.
The 10-year loan was provided by Morgan Stanley and featured a fixed rate of 3.55%. BBCP’s Bryan Manz, Brandon Harris, and Philip Bowman arranged the financing package.
“Morgan Stanley quickly recognized the strength of borrower’s management capabilities, pride of ownership, and long-term tenancy on a trophy asset in a AAA location, closing the loan in a smooth and efficient manner on an expedited basis,” said Manz.
Also known as 170 W. 73rd St. – 175 W. 72nd St., the Beaux Arts-style property spans 12 stories and fills the entire east side of Amsterdam Avenue between 72nd and 73rd streets. Constructed in 1905, it contains 134 residential units and approximately 20,837 square feet of at-grade retail.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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