Biltmore Apartment Tower Owners Land $248M Refi
Newmark arranged a $248-million refinancing of The Biltmore, a 464-unit luxury apartment building in Manhattan’s Midtown West submarket, for BentallGreenOak and Slate Property Group. Square Mile Capital and Clarion Partners provided the loan. The Newmark team was led by co-heads of Newmark Debt & Structured Finance Jordan Roeschlaub and Dustin Stolly, along with senior managing directors Nick Scribani and Chris Kramer. “The multifamily ... The post Biltmore Apartment Tower Owners Land $248M Refi appeared first on Connect CRE.
Newmark arranged a $248-million refinancing of The Biltmore, a 464-unit luxury apartment building in Manhattan’s Midtown West submarket, for BentallGreenOak and Slate Property Group. Square Mile Capital and Clarion Partners provided the loan.
The Newmark team was led by co-heads of Newmark Debt & Structured Finance Jordan Roeschlaub and Dustin Stolly, along with senior managing directors Nick Scribani and Chris Kramer.
“The multifamily market in New York City has been a strong performer despite the headwinds over the past few years and quality assets that offer a mixed-use component remain a top choice for owners,” said Roeschlaub.
Stolly added, “We believe that the financing provided by our partners at Square Mile Capital and Clarion will allow for ownership to successfully complete strategic upgrades to this iconic asset.”
Built in 2003 and located at 271 W. 47th St. the recently renovated 51-story Biltmore also includes 47,397 square feet of ground-floor retail.
The post Biltmore Apartment Tower Owners Land $248M Refi appeared first on Connect CRE.
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