Avison Young has successfully arranged a $24 million refinancing for a retail condominium located at 30 E. 85th St. in Manhattan’s prestigious Upper East Side neighborhood. The property, which spans over 35,000 square feet and is home to multiple tenants including an E by Equinox location on the second floor, is owned and developed by The Zucker Organization.
The Tri-State Debt & Equity Finance Team at Avison Young, led by principal & co-lead Scott A. Singer along with executive director Kevin Swartz, senior director Jeffrey Moroch and associate director Andrew McNulty represented The Zucker Organization in this transaction. They secured a 10-year loan through JPMorgan’s CMBS platform to replace the existing loan on the property.
Managed by Manhattan Skyline Management – a division of The Zucker Organization – this retail condo occupies a prime spot on Madison Avenue between 84th and 85th streets since its development in1987. With consistently high occupancy rates over the years, it remains one of the most sought-after locations for retailers in this bustling corridor.
