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NEW YORK—Verbena Road Holdings has secured a $103 million mortgage loan from New York Life Real Estate Investors, a subsidiary of New York Life Insurance Co., to refinance its 23-floor luxury apartment tower dubbed The Lanthian Apartments.
The 1998-built property located at 377 E. 33rd St., bordering Murray Hill and Kips Bay, joined the Verbena Road portfolio in 2016 for an estimated $173 million. In 2018, the company increased its stake buying out Dermot Company for $49.5 million, according to news reports. The property value of the building is believed to have increased since its recent renovation, which includes upgrades to its apartment interiors, building amenities and common areas.
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
