Cushman & Wakefield Arranges $550M for Two Upper East Side MF’s
The Chetrit Family and Stellar Management secured $550 million of fixed-rate financing for Yorkshire Towers and Lexington Towers in New York. The financing was provided by affiliates of Natixis Real Estate Capital LLC and UBS AG.
Cushman & Wakefield’s Steve Kohn, Alex Hernandez, Alex Lapidus and Noble Carpenter, along with Doug Harmon and Adam Spies, represented the borrower.
Cushman & Wakefield’s Steve Kohn says, “This is quintessential multi-generational Manhattan real estate. The extensive renovation program undertaken by the ownership has positioned these assets for long-term success in the competitive Manhattan residential market.”
Yorkshire Towers, located at 305-315 East 86th St. on Manhattan’s Upper East Side, is a 692-unit, 21-story apartment building built in 1964. Built in 1963, Lexington Towers is a 137-unit, 15-story apartment building located on the southeast corner of East 88th Street and Lexington Avenue.
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