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Banking and Finance

Stonehenge finances flagship NYC properties

Stonehenge NYC successfully completed the refinancing of two of its flagship properties located at 108 West 15th Street and 210 West 89th Street with New York Community Bank.

OFER YARDENI

Total gross proceeds from the refinancing amounted to more than $63 million. Ralph Herzka and Abe Hirsh, from Meridian Capital, represented Stonehenge NYC in the transaction.

Stonehenge NYC has owned and managed these properties since the mid-90’s.

Ofer Yardeni, chairman and CEO of Stonehenge NYC, commented: “We have enjoyed a great relationship with New York Community Bank for many years. I am grateful for the Bank’s continued trust and confidence. This transaction confirms that, notwithstanding the important changes imposed on residential landlords under the new laws, that the market is still open for business. We plan on being an active participant going forward.”

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