Dayan’s Bonjour Capital inks $115M refi for Upper East Side building

Company had purchased 1735 York Avenue in 2016 for about $150 million

New York /
Sep.September 06, 2019 12:15 PM
1735 York Avenue and Bonjour Capital's Charles Dayan (Credit: Google Maps)

1735 York Avenue and Bonjour Capital’s Charles Dayan (Credit: Google Maps)

Bonjour Capital has landed a $115 million Fannie Mae loan for a residential property it recently acquired on the Upper East Side.

The 10-year, full-term, interest-only loan is for 1735 York Avenue at the corner of East 90th Street, which Bonjour Capital bought from Glenwood Management in 2016 for about $150 million. (It’s among the very few sales for Glenwood Management, whose late founder Leonard Litwin famously hated parting with his properties.) The Fannie Mae financing replaces an earlier loan for $100 million and has a 3.19 percent interest rate.

Meridian Capital Group’s Shaya Ackerman and Shaya Sonnenschein negotiated the financing, which coincided with the rebranding of the building from “the Hamilton” to “the Serrano.”

Bonjour Capital has spent more than $20 million since purchasing the building to renovate and upgrade it, an effort spearheaded by Daniel Goldner Architects, according to Bonjour founder Charles Dayan. The property stands 38 stories tall with 265 apartments and a 150-car parking garage, and amenities include a yoga studio, a business center and a penthouse lounge.

Bonjour sold the Crescent Club, a 130-unit rental building in Long Island City, for $97 million to Weiss Realty a few months before buying 1735 York Avenue.


Related Articles

arrow_forward_ios
From left: Fannie Mae's Hugh Frater and Freddie Mac's Michael DeVito
Government to back home loans over $1M
Government to back home loans over $1M
Residential Real Estate, Housing Market, Fannie Mae
Sentiment sinks deeper as market sidelines buyers and sellers
Sentiment sinks deeper as market sidelines buyers and sellers
Equifax CEO Mark Begor (Photo Illustration by Steven Dilakian for The Real Deal with Getty Images)
Equifax error might have harmed (or helped) mortgage applicants
Equifax error might have harmed (or helped) mortgage applicants
Fannie Mae's Doug Duncan (Fannie Mae, iStock)
Optimism continues slide among would-be homebuyers
Optimism continues slide among would-be homebuyers
A photo illustration of a crystal ball predicting future home prices (iStock)
Home sales, building to slow: Fannie Mae
Home sales, building to slow: Fannie Mae
A rendering of 620 West 153rd Street (Rendering via J. Frankl Associates)
Jay Group secures $83M for massive Hamilton Heights resi building
Jay Group secures $83M for massive Hamilton Heights resi building
Fannie, Freddie to buy mortgages up to nearly $1M
Fannie, Freddie to buy mortgages up to nearly $1M
Fannie, Freddie to buy mortgages up to nearly $1M
FHFA director Sandra Thompson (FHFA, iStock)
Treasury suspends investment property restrictions to boost housing supply
Treasury suspends investment property restrictions to boost housing supply
arrow_forward_ios

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

Loading...