Gorjian Real Estate lands loan for acquisition of 192 Lexington

$60M loan comes from Citi Real Estate Funding

TRD New York /
Oct.October 04, 2018 05:00 PM

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.

Related Articles


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

An example of roll-off waste management (Credit: YouTube, iStock)

Big building owners prevent city from dumping container-pickup in trash-collection reform

Joel Schreiber (Credit: Shir Stein and Wikipedia)

WeWork’s first investor used his stock as collateral. Now his lenders are suing him

“I can talk about erections all day”: NAR tech consultant’s bizarre fireside chat

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

163 North 6th Street and the Tel Aviv Stock Exchange Bull (Credit: Google Maps, Wikipedia)

Joel Gluck’s Israeli bond issuance falls through as Williamsburg rental project faces financing crunch

Council member Vanessa Gibson (Credit: New York City Council)

Commercial landlords face new fines as City Council passes anti-harassment bill