Ariel Property Advisors’ Capital Services Group brokered a $25.35 million loan for the acquisition of an 82-unit multifamily property at 120-125 Riverside Drive in the Upper West Side. The loan, obtained from an out-of-state lender, will allow the buyer to acquire and renovate the property, which includes a mix of free-market and rent-stabilized units.  

Matt Dzbanek and Matt Swerdlow of Ariel Property Advisors secured the financing, which features a five-year, fixed-rate term with two years of interest-only payments and a 60% loan-to-cost ratio.  

“We were pleased to be able to secure this highly structured financing package with favorable terms for the buyer,” Dzbanek said. “The loan benefited from our full marketing process which led to multiple bids and ultimately a very competitive structure from the winning bank.” 

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