Glenwood lands $98M loan for UES buildings

Loan from Prudential is for 322, 330 and 350 East 79th St

TRD New York /
Jun.June 07, 2018 12:46 PM

Glenwood Management’s Executive Vice President Gary Jacob and 350 East 79th Street

Glenwood Management received a $98 million loan from Prudential Multifamily Mortgage for a trio of rental properties on the Upper East Side.

The money will go to 322, 330 and 350 East 79th Street, located between First and Second avenues, property records filed with the city Thursday. The loan includes $4.9 million in new financing along with two notes for $49.8 million and $43.3 million.

The property at 350 East 79th Street is the Lucerne, a luxury rental building that stands 44 stories tall and includes 236 apartments.

Glenwood and Prudential did not immediately respond to requests for comment.

Glenwood, one of the largest rental landlords in the city, was founded in 1961 by Leonard Litwin, who died last year at age 102. He left behind a complicated legacy.

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