Stonehenge gets $132M refi for trio of rental buildings

Refinancing is for 10 Downing Street and 20 and 41 Park Avenue

TRD New York /
Apr.April 05, 2018 06:21 PM

Ofer Yardeni and 10 Downing Street

Ofer Yardeni’s Stonehenge Partners refinanced three of its luxury rental buildings in Manhattan, with a total of $132.2 million in debt from New York Community Bank, property records filed with the city Thursday show.

The bank was also the previous lender on the buildings at 10 Downing Street in Greenwich Village and 20 and 41 Park Avenue in Midtown. Stonehenge purchased the World War II-era mid-rise property at 10 Downing Street in 2005. In the same portfolio deal totaling $168.5 million, the firm bought 20 and 41 Park Avenue. The three buildings collectively hold more than 300 apartments.

The new Stonehenge debt comes on the heels of a major disposition for the firm. Earlier this week, the company sold the 420-unit Stonehenge Village complex on the Upper West Side to A&E Real Estate Holdings, one of the city’s largest residential landlords.

A representative for Stonehenge could not be immediately reached for comment.

Interest rates are on the rise, but refinancings still account for a major share of large loan transactions in Manhattan. In February, developer Clipper Equity refinanced the apartment building at 120 Church Street with a $335 million loan from Deutsche Bank.


Related Articles

arrow_forward_ios
With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)

Real estate stocks push up this week as U.S.-China trade tensions ease

Real estate stocks push up this week as U.S.-China trade tensions ease
416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Matt Borstein, Deutsche Bank’s global head of CRE, is moving to Oak Hill Advisors (Photo via Deutsche Bank)

Deutsche Bank’s CRE head moves to Oak Hill Advisors

Deutsche Bank’s CRE head moves to Oak Hill Advisors
Bank OZK CEO George Gleason (Unsplash; Bank OZK)

Bank OZK’s lending up in third quarter

Bank OZK’s lending up in third quarter
WeWork CEO Sandeep Mathrani (Wikipedia Commons; iStock)

WeWork bonds, already junk, downgraded by Fitch

WeWork bonds, already junk, downgraded by Fitch
(Getty, iStock)

Cash-strapped borrowers are increasingly giving keys back to lenders

Cash-strapped borrowers are increasingly giving keys back to lenders
Craig Solomon

The REInterview: Square Mile’s Craig Solomon on his big bet on studio space, today’s capital stack and the dangers of socialism

The REInterview: Square Mile’s Craig Solomon on his big bet on studio space, today’s capital stack and the dangers of socialism
529 Fifth Avenue and Silverstein Properties' Larry Silverstein (Google Maps; Getty)

Silverstein gets $171M refi for 529 Fifth Avenue

Silverstein gets $171M refi for 529 Fifth Avenue
arrow_forward_ios

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

Loading...