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New York

Chetrit, Stellar snag $550M to refi two UES apartment buildings

UBS, Natixis provided the loan

From left: Yorkshire Towers, Lexington Towers, Joe Chetrit and Laurence Gluck (Credit: UES Management)
From left: Yorkshire Towers, Lexington Towers, Joe Chetrit and Laurence Gluck (Credit: UES Management)

The Chetrit Group and Stellar Management nabbed a $550 million loan to refinance two Upper East Side apartment buildings.

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Natixis and UBS provided the financing for Yorkshire Towers, at 305 East 86th Street, and Lexington Towers at 160 East 88th Street, the Commercial Observer reported. The financing replaces a $425 million loan from Deutsche Bank in 2014. Chetrit and Stellar purchased the properties that year for nearly $500 million from the estate of Irving Schneider, who was a business partner of Harry Helmsley.

Yorkshire Towers, built in 1964, rises 21 stories and has 692 apartments. Lexington Towers is a 15-story building with 137 units. [CO] — Kathryn Brenzel  

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Joseph ChetritReal Estate FinanceStellar Management