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New York & Tri-State  + Finance  | 

Avison Young Arranges Refi on Upper East Side Retail Condo

Avison Young arranged a $24-million first mortgage refinancing of a retail condominium at 30 E. 85th St. on Manhattan’s Upper East Side for an affiliate of owner/developer The Zucker Organization. The 35,000-square-foot, multi-tenanted property is fully leased, with tenants including an E by Equinox location on the second floor.

The Zucker Organization was represented by Avison Young’s Tri-State Debt & Equity Finance Team, led by principal & co-lead Scott A. Singer, executive director Kevin Swartz, senior director Jeffrey Moroch and associate director Andrew McNulty. The team arranged the 10-year loan with JPMorgan’s CMBS platform, and proceeds will be used to repay the existing loan. The retail condo is managed by Manhattan Skyline Management, a division of The Zucker Organization.

Located in a prime retail corridor of Madison Avenue between 84th and 85th streets, the building was developed by The Zucker Organization in 1987 and the two-story retail portion has maintained consistently high occupancy.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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