HFF arranged $100 million in long-term financing for a 510-unit, high-rise in Murray Hill.
HFF worked on behalf of the borrower to secure the 20-year, fixed-rate loan through Prudential Mortgage Capital Company.
The property is located on 39th Street, between First and Second Avenues. The 39-story building consists of studio, one- and two- bedroom units.
The HFF team representing the borrower included senior managing director Michael Tepedino, managing director Steven Klein and associate director Jennifer Keller. Prudential was represented by director Sarah Teunis and senior analyst Kathryn Bradford.
“The transaction provided the borrower an opportunity to take advantage of the low interest rate environment and provided lenders an opportunity to offer funding for a high quality residential asset in one of the top neighborhoods in the city,ˮ said Klein.