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| Murray Hill neighborhood apartments 39th Street, Midtown Manhattan, NY |
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| Jennifer Keller |
NEW YORK, NY – HFF announced today that it has arranged $100
million in long-term financing for a 510-unit, high-rise residential property
in Manhattan’s Murray Hill neighborhood.
HFF
worked on behalf of the borrower to secure the 20-year, fixed-rate loan through
Prudential Mortgage Capital Company, the commercial real estate finance
business of Prudential Financial, Inc. (NYSE: PRU).
The property is located on 39th Street between First and
Second Avenues, in close proximity to several neighborhood amenities, public
transportation, Grand Central Station and Midtown Manhattan.
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| Michael Tepedino |
The 39-story building consists of studio, one- and two-
bedroom units. Community amenities
include a doorman, parking garage, laundry facilities and bicycle storage.
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 with best in class sponsorship,” commented Klein.
For a complete
copy of the company’s news release, please contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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