HFF announces $17M financing of luxury rental apartment building in Manhattan’s East Village
NEW YORK, NY – September 5, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $17 million financing of 185 Avenue B, a seven-story, newly constructed, luxury rental apartment property in Manhattan’s East Village.
The HFF team worked on behalf of the owner to secure the 15-year, fixed-rate loan through Allianz Real Estate of America, LLC. The HFF debt placement team representing the borrower was led by managing director Steven Klein.
185 Avenue B is located one block from Tompkins Square Park amid a mix of dining amenities and eclectic retail in the East Village. Completed in 2016, the boutique luxury property comprises 40 studio and one-bedroom residential units, which feature nine-foot ceilings, noise-buffering double paned windows, intercom systems and views of the city from the upper floors. Additionally, the property is a short walk to the Lower East Side, Soho, New York University and The New School.
“The property’s new construction and prime location in the heart of the East Village neighborhood represents one of the most sought-after residential submarkets in Manhattan,” said Klein. “The historically low interest rates appealed to the borrower to lock in long-term, fixed-rate financing.”
Holliday Fenoglio Fowler, L.P. is a New York-licensed real estate broker.
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). For more information please visit hfflp.com or follow HFF on Twitter @HFF.