The Real Deal New York

Stonehenge gets $132M refi for trio of rental buildings

Refinancing is for 10 Downing Street and 20 and 41 Park Avenue
By Will Parker | April 05, 2018 06:21PM

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.