Investors Isaac Chetrit and Ray Yadidi refinanced two Diamond District buildings with a $130 million loan from Signature Bank.
The debt is split between the two properties, according to the New York Observer, with a $75 million mortgage on the 18-story 15 West 47th Street and a $55 million loan on the 15-story 22 West 48th Street. The refinancing carries a seven-year term with an interest rate of 3.88 percent.
Chetrit and Yadidi bought the buildings, primarily filled with diamond and gem-related companies, for a combined $116.3 million in 2012. They financed the acquisition with a $70 million loan from Wells Fargo, which was also arranged by Meridian.
Chetrit and partner Jacob Aini acquired a 14-story Midtown office building, at 315 West 35th Street, for $43 million at a bankruptcy auction earlier this year, with plans to convert the property into high-end residential condominiums.