Icon refinances portfolio of Manhattan rental buildings

JPMorgan Chase lends $73M

Jan.January 14, 2019 04:30 PM

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.

Related Articles

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

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

Centrale at 138 East 50th Street and Ceruzzi Properties’ Arthur Hooper (Hooper by Sasha Maslov)

Ceruzzi Properties secures $350M to refi Midtown East tower

Denizen Bushwick at 54 Noll Street (Credit: iStock, Google Maps)

All Year closing in on $675M refi for Rheingold Brewery development

Denizen Bushwick at 54 Noll Street (Credit: Google Maps, iStock)

A major Bronx landlord is shorting All Year’s bonds. Are his concerns legit?

CrowdStreet CEO Tore Steen (Credit: iStock)

CrowdStreet hits $1B milestone, crowdfunding firm claims

From left: 55 East 74th Street, 9 East 82nd Street, 1 Central Park South, 78 Irving Place with Adam Neumann and 111 West 57th Street (Credit: StreetEasy, Wikipedia, Getty Images)

Adam Neumann’s triplex, Russians’ Plaza pad were priciest homes listed last week

3 East 69th Street and 252 East 57th Street 

With asking prices in freefall, luxury market sees strong week