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220 East 63rd Street New York

BLDG Management refis the Blake on the UES with $65M loan Principal Real Estate Investors lent on 181-unit rental building

220 East 63rd St and Lloyd Goldman (Credit: Getty Images)

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LDG Management refinanced the Blake – the company’s 181-unit rental building on the Upper East Side – with a $65 million loan from Principal Real Estate Investors.

The landlord secured the 10-year loan to replace $90 million in debt provided by Column Financial in 2007, the C上海龙凤论坛sh1f

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ommercial Observer reported. The loan comes with a fixed rate of 4.24 percent with seven years of interest-only payments.

Lloyd Goldman’s BLDG Management bought the 14-story building at 220 East 63rd Street between Second and Third avenues in 2006 for $100 million, property records show.

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Group’s Carol Shelby, who arranged the financing, said “we approached life companies to achieve favorable balance of pricing, term and interest-only payments.”

Earlier this year, BLDG secured $70 million from State Farm Realty Mortgage to refinance its rental building at 2380 Broadway and West 87th Street. [CO] – Rich Bockmann

(To view more financing transactions involving BLDG Management, click here)

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anagement, lloyd goldman, Real Estate Finance
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