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New York & Tri-State  + Downtown New York  + Apartments  |  June 30, 2026
Paul Bubny
By: Paul Bubny

Citi Lends $45M on Luxury East Village Multifamily

JLL Capital Markets arranged a $44.5-million financing for 194 E. 2nd St., a 61-unit luxury family property with ground-floor retail located in Manhattan’s East Village. Managing director Michael Zaremski, senior director John Flynn and director Clayton Ross. worked on behalf of the borrower, Benchmark Real Estate Group, the New York-based company led by Jordan Vogel and Aaron Feldman. Citi provided the funding.

“Demand for high-quality multifamily assets in Manhattan continues to be driven by exceptionally strong operating fundamentals, limited new supply and sustained renter demand,” said Zaremski. “194 E. 2nd St. represents a rare combination of institutional-quality amenities, durable cash flow and meaningful long-term value creation opportunities. “

Located at the corner of East 2nd Street and Avenue B, the six-story property contains 61 residential units and approximately 15,450 square feet of retail space. Benchmark acquired the property in 2024 and undertook a significant renovation program that included upgrades to residential units, common areas, lobby and amenity spaces.

Read More News Stories About: JLL
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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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