Nonprofit, Northwell Health get $246M loan for Upper East Side assemblage

Loan comes from CGA Mortgage Capital

New York /
Aug.August 20, 2018 02:45 PM

TUFF CEO Kevin Byrne, 201-203 East 76th Street, and 1339-1345 Third Avenue (Credit: TUFF and Google Maps)

The University Financing Foundation and Northwell Health have received a $246 million acquisition loan for their purchase of six vacant Upper East Side buildings.

The loan comes from CGA Mortgage Capital, according to Commercial Observer. The Maryland-based company previously loaned Muss Development $198 million for Brooklyn Renaissance Plaza on Jay Street.

TUFF, a nonprofit, purchased the Upper East Side buildings earlier in August from Mautner-Glick for $232 million, and Northwell Health plans to develop the properties with a new outpatient care center, medical offices, a cancer center and an ambulatory surgery center. The assemblage stretches along Third Avenue from East 76th Street to East 77th Street. [CO] — Eddie Small


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
Hudson’s Bay Company restructures $846M CMBS loan
Hudson’s Bay Company restructures $846M CMBS loan
Hudson’s Bay Company restructures $846M CMBS loan
Two of the eleven properties under threat of foreclosure (Google Maps)
Mack Real Estate may “strip” club owner of properties
Mack Real Estate may “strip” club owner of properties
270 W Montauk Hwy, Hampton Bays, NY (Loopnet)
Legendary Hampton Bays bar up for sale
Legendary Hampton Bays bar up for sale
Senator Chuck Schumer and 70 Prospect Park West (Google Maps, Getty)
Schumer blasts Brooklyn landlord as NY pols vow to pass good cause eviction
Schumer blasts Brooklyn landlord as NY pols vow to pass good cause eviction
Prologis Chairman and CEO Hamid Moghadam (Getty, Prologis)
Industrial space “effectively sold out” amid leasing frenzy, Prologis says
Industrial space “effectively sold out” amid leasing frenzy, Prologis says
Starwood raises $10B for distressed real estate plays
Starwood raises $10B for distressed real estate plays
Starwood raises $10B for distressed real estate plays
arrow_forward_ios

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

Loading...