The Real Deal New York

Gorjian Real Estate lands loan for acquisition of 192 Lexington

$60M loan comes from Citi Real Estate Funding
By Eddie Small | October 04, 2018 05:00PM

Justin Gorjian and 192 Lexington Avenue (Credit:Getty Images and 192 Lex)

Gorjian Real Estate has landed a $60 million CMBS loan for its purchase of 192 Lexington Avenue.

The loan comes from Citi Real Estate Funding, which assumed the property’s existing debt from TD Bank and provided $52.7 million in new debt, according to property records.

Gorjian closed on the NoMad property last month for $89 million. The 17-story office building spans 140,000 square feet and is almost fully occupied, with tenants including Mattress Firm and the law firms Roth & Roth, Goldberg & Fliegel and Marian Polovy Law.

Citi Real Estate Funding and JPMorgan Chase teamed up earlier this year to provide the Hakimian Organization with a $240 million mortgage for 636 11th Avenue in Hell’s Kitchen. Gorjian is partners with Hakimian on that property.

Commercial Observer first reported news of the loan.