Ariel Property Advisors has arranged $13.5 million in acquisition financing for three adjacent mixed-use buildings located near Times Square, Bryant Park, and Hudson Yards in Manhattan’s Hell’s Kitchen. The three buildings were 40% vacant at close with a five-year term at a fixed interest rate of 6.5%.
The team led by Matthew Dzbanek, Matt Swerdlow and Drew Chartash was able to secure the transaction on behalf of the borrower within 35 days from signing the term sheet despite market uncertainty. “The transaction terms secured by Ariel prove that the lender understood the value proposition of these assets in an ever-evolving market,” said Dzbanek. These properties provide easy access to entertainment, retail dining and transportation options in one of Manhattan’s busiest neighborhoods making them highly desirable investments for buyers looking to capitalize on their location advantages.
