Stonehenge gets $132M refi for trio of rental buildings

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

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
Slate Property Group's Martin Nussbaum and a rendering of the project
Hakimian, Certes land $59M loan for East Harlem multifamily project
Hakimian, Certes land $59M loan for East Harlem multifamily project
From left: 909 Third Avenue, 79 Fifth Avenue, 240 West 37th Street and 27 East 62nd Street (VNO, Cercone Exterior Restoration, Google Maps)
These were the largest Manhattan real estate loans in April
These were the largest Manhattan real estate loans in April
C-PACE gives landlords and developers cheap financing in exchange for making energy efficient improvements. (Getty)
Landlords can now retroactively tap financing tool for energy improvements
Landlords can now retroactively tap financing tool for energy improvements
Stonehenge CEO Ofer Yardeni and 920 Park Avenue (Google Maps, Stonehenge)
Stonehenge Partners buys $135M UES rental building
Stonehenge Partners buys $135M UES rental building
11 East 26th Street with Henry and Justin Elghanayan (Google Maps, Getty)
Rockrose investment values Nomad office building at $235M
Rockrose investment values Nomad office building at $235M
Jamie Dimon, Steve Roth, Donald Trump and 555 California St. (Trump, Getty)
Vornado lines up $1.2B refi of SF tower co-owned with Trump
Vornado lines up $1.2B refi of SF tower co-owned with Trump
arrow_forward_ios

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

Loading...