Laub Realty has taken $95 million in permanent financing to refinance a mixed-use Manhattan property on the Upper West Side.
Morgan Stanley provided the 10-year, interest-only loan that features a fixed rate of 3.55% for 261-275 Amsterdam Avenue Black Bear Capital Partners‘ (BBCP) Bryan Manz, Brandon Harris, and Phillip Bowman gave the debt package on behalf of Michael Laub of Laub Realty and Michael Goldstein of Eastgold Holdings.
Built-in 1905, the Beaux Arts-style, the 134-unit estate spans 12 stories in 72nd and 73rd streets. The building also includes 20,837 square feet of retail space with national holders that include Chipotle and Capital One.
Scarsdale, New York-based Laub Realty operates more than 2,000 apartment buildings, along with more than 1 million square feet of commercial office and retail space. It also has focused more on medical assets in recent years.
BBCP has achieved many fundings during the past few months for clients nationwide, including in New York, New Jersey, Pennsylvania, Connecticut, Texas, California, Florida, Ohio, Illinois, Arizona, Nevada, South Carolina, Minnesota, Georgia, and Nebraska.