Stonehenge NYC Announces the Financing of Two of its Flagship Properties with New York Community Bank
NEW YORK, July 1, 2019 /PRNewswire/ -- Stonehenge NYC today announced it has 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. Total gross proceeds from the refinancing amounted to more than $63 million. Stonehenge NYC has owned and managed these properties since the mid-90's. Ralph Herzka and Abe Hirsh, from Meridian Capital, represented Stonehenge NYC in the transaction.
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."
About Stonehenge NYC
Stonehenge NYC, founded by Ofer Yardeni, is a vertically integrated, private real estate company with expertise in investment management, property management, development, design, construction, leasing and financing. Stonehenge's core growth strategy is focused on New York City real estate opportunities. The company currently owns and manages 18 residential apartment buildings with more than 2,700 rental apartment units with an appraised value of $2.2 B. www.stonehengenyc.com
SOURCE Stonehenge NYC
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