At a glance
- Connect CRE first reported the financing on Nov. 10.
- The two buildings — Renoir House at 225 E. 63rd St. and 120-125 Riverside Dr. — were roughly 97% occupied at underwriting and total about 185,177 rentable square feet across 233 units.
- At 97% occupancy, the deal gives allocators a November 2026 benchmark for bank debt on occupied Manhattan apartments: about $446,000 per unit and $562 per rentable square foot.
JLL Capital Markets arranged $104 million of refinancing for AYA New York's 233-unit Manhattan apartment portfolio, with Citi providing the debt. Connect CRE first reported the financing on Nov. 10.
The two buildings — Renoir House at 225 E. 63rd St. and 120-125 Riverside Dr. — were roughly 97% occupied at underwriting and total about 185,177 rentable square feet across 233 units. Terms were not disclosed.
At 97% occupancy, the deal gives allocators a November 2026 benchmark for bank debt on occupied Manhattan apartments: about $446,000 per unit and $562 per rentable square foot. The average unit is about 795 square feet. Those loan figures are not valuations, so they do not establish leverage, but they are useful comparables for multifamily credit in the borough.
Reported by the Real estate debt desk from Connect CRE. Published . Corrections