RFR closes $70M refinancing for UES apartment building

27-story complex to be converted to condominiums

New York /
Apr.April 01, 2014 06:30 PM

Aby Rosen’s RFR Realty has secured a $70-million refinancing for an apartment complex in the Upper East Side.

RFR, which closed the deal from M&T Bank, plans to transform the 27-story complex at 300 East 64th Street into condominiums, the New York Observer reported. The New York-based developer, formerly known as RFR Davis, built the structure during the mid-1990s as one of its first projects. The firm took out a $24 million collateral mortgage on the property in 2009, then refinanced that loan in 2010. The most recent $70 million refinancing replaces the previous loan and carries a three to five-year term, according to the Observer.

Units at the address range in prices from $3,000 to almost $12,000 per month, StreetEasy data reveals. The building does not contain rent-regulated apartments, which could result in simpler conversions to separate condominium entities. [NYO]The Real Deal staff


Related Articles

arrow_forward_ios
From left: 2201 Collins Avenue in Miami Beach, Joseph Nakash, Aby Rosen, Ralph Nakash, and David Edelstein (Photos via Marriott; Getty)
Nakash family sells W South Beach units to RFR, Tricap
Nakash family sells W South Beach units to RFR, Tricap
The Gramercy Park Hotel at  2 Lexington Avenue and Aby Rosen of RFR Holding (Getty; Google Maps)
Aby Rosen’s Gramercy Park Hotel faces eviction
Aby Rosen’s Gramercy Park Hotel faces eviction
RFR Holding's Aby Rosen with the Seagram Building and the Chrysler Building (Photos via Getty; iStock)
Aby Rosen says firms have been too “nice-nice” with employees
Aby Rosen says firms have been too “nice-nice” with employees
Vanke US managing director Kai-yan Lee, RFR’s Aby Rosen and 100 East 53rd Street (Photos via Foster + Partners and Getty)
Vanke seeks to remove RFR from Midtown condo project
Vanke seeks to remove RFR from Midtown condo project
100 East 53rd Street,  Vanke US managing director Kai-yan Lee, and RFR's Aby Rosen (Photos via Structure Tone and Getty)
Aby Rosen accuses Chinese partner of “power grab” after condo loan default
Aby Rosen accuses Chinese partner of “power grab” after condo loan default
From left: 410 Tenth Avenue, 745 Fifth Avenue, One Manhattan West and 522 Fifth Avenue (Google Maps, Wikimedia)
Real estate lending bounces back in September in a big way
Real estate lending bounces back in September in a big way
522 Fifth Avenue and 1375 Broadway (Google Maps)
Manhattan CRE deals hit lows not seen since 2009
Manhattan CRE deals hit lows not seen since 2009
From left: Michael Fuchs, Aby Rosen, Brandon Singer and Michael Cody (Getty, iStock)
Aby Rosen, Michael Fuchs back new retail brokerage
Aby Rosen, Michael Fuchs back new retail brokerage
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...