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MMCC Arranges Financing on Upper East Side Retail Condo
Marcus & Millichap Capital Corp. arranged financing for 305 E. 72nd St., a retail condominium on Manhattan’s Upper East Side. The site, including a CVS Pharmacy and two restaurants, received $20,000,000 in financing.
The loan was facilitated by Daniel Lisser and Rick Lechtman of MMCC in Manhattan, along with the Charlotte office’s David Turner. The transaction was arranged through a national CMBS lender with a 10-year interest-only loan term and interest in the mid-3% range.
Regarding the transaction, the team said, “The property’s existing loan was maturing, and the borrower needed to refinance the loan during a very challenging financing environment for retail properties, especially ones with restaurants. Many lenders were reluctant to finance the property at the requested loan amount due to the restaurant tenancy.”
The MMCC team was able to identify a lender and got them comfortable with the tenant base and its performance in the current environment.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing

