The Real Deal New York

Icon refinances portfolio of Manhattan rental buildings

JPMorgan Chase lends $73M
By Will Parker | January 14, 2019 04:30PM

From left: Todd Cohen, Terrence Lowenberg and 610 East 9th Street (Credit: Google Maps)

Icon Realty Management refinanced nine Manhattan buildings with JPMorgan Chase, records filed with the city Monday show.

The buildings include a mix of residential and commercial units, including nearly 300 apartments. The six new loans, together totaling $73 million, replace previous debt from Signature Bank and carry five year terms.

The refinanced properties are 808 Lexington Avenue, 316 West 14th Street, 446 West 19th Street, 448 West 19th Street, 324 West 14th Street, 322 West 14th Street, 320 West 14th Street, 610 East 9th Street and 47 Clinton Street.

Icon’s Terrence Lowenberg did not comment on the transactions.

In December, Icon obtained approval from the New York State Attorney General’s office to begin sales on under-construction condominium units on the Upper East Side. The project, comprising two buildings at 301 East 80th Street and 301 East 81st Street, is among the most expensive by total projected sales in that area, at $714 million.