Citigroup Grants $50M CMBS Refinance For NYC Multifamily Portfolio

Manhattan-based estate owner Fine Times has landed $50 million of commercial mortgage-backed securities (CMBS) mortgages to refinance 18 multifamily assets throughout Manhattan and Brooklyn.

Citigroup supplied the 10-year CMBS loan, which highlights an interest rate in the middle 3% range and interest-only payments for the full term.

The deal was arranged by Meridian Capital Group vice presidents Shamir Seidman and Daniel Neiss, as both are based in the brokerage firm’s New York City headquarters.

The Fine Times portfolio consists of 12 properties in Manhattan totaling 85 units, including 17 West 68th Street19 West 68th Street21 West 68th Street23 West 68th Street44 West 69th Street46 West 69th Street46 West 70th Street30 West 71st Street32 West 71st Street219 West 71st Street53 West 73rd Street; and 12 West 76th Street

The portfolio also holds six properties in Brooklyn comprising 64 total units at 196 Columbia Heights198 Columbia Heights150 Columbia Heights9 Montague Street6 Pierrepont Street; and 82 Pierrepont Street.

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