Stonehenge Gardens, 108 W. 15th St.
NEW YORK CITY—Stonehenge NYC has completed the refinancing of two of its multifamily properties in Manhattan. New York Community Bank provided a loan of $25.5 million for Stonehenge Gardens at 108 W. 15th St. and a loan of $38 million for Stonehenge Tower, with total gross proceeds of $63.5 million. The refinancing will be used to repay existing debt and to acquire new properties.
Ofer Yardeni, chairman and CEO of Stonehenge NYC, commends his firm's positive, long-term relationship with New York Community Bank.
“This transaction confirms that, notwithstanding the important changes imposed on residential landlords under the new laws, that the market is still open for business,” Yardeni adds. “We plan on being an active participant going forward.”
Stonehenge Tower, 210 W. 89th St.
Built in 1950, Stonehenge Garden is a six-story building with 56 units, across 41,741 square feet. Built in 1963, Stonehenge Tower is a 12-story, 150-unit building totaling 110,547 square feet. Stonehenge NYC has owned and managed both properties since the mid-90s.
Meridian Capital's Ralph Herzka and Abe Hirsh represented Stonehenge NYC in the transaction.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
