460-unit co-op signs $42M refi with Bank of America in Lenox Hill

360 East 72nd Street cooperative through the entity 360 East 72nd Street Owners Incorporated as borrower signed a refi loan with lender Bank of America valued at $42 million for the 460-unit residential elevator building (D4) at 360 East 72nd Street, also known as 1325 First Avenue, in Lenox Hill, Manhattan.
The deal closed on March 2, 2026 and was recorded on March 11, 2026. The prior lender was Fannie Mae which held debt that had an original loan amount of $30 million.The property has 560,525 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $74 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The owner bought the property on September 4, 2014, for $540,000. The signatory for 360 East 72nd Street cooperative was Edward Brailey. The signatory for Bank of America was Robert Fenstemaker.

Prior sales, articles and revenue

The owners according to the Department of Housing Preservation and Development includes Jeanette Rodriguez, head officer and Luis Perez, officer. The business entity is 360 East 72nd Street Owners Incorporated. The 560,525-square-foot property generated revenue of $28 million or $50 per square foot, according to the most recent income and expense figures.

The property

The residential elevator building with 460 residential units in Lenox Hill has 560,525 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 204 feet and is 200 feet deep with a total lot size of 40,866 square feet. The zoning is R10A which allows for up to 10 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $135.7 million. The property has 16 rent regulated units according to city tax records from 2024.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $19,100 in OATH penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The block

On this tax block, PincusCo has identified the owners of six of the nine commercial properties representing 89,543 square feet of the 144,741 square feet. The largest owner is Torkian Group, followed by Kenneth Rotner and then Shufang Zu.
There are no active new building construction projects on this tax block.

The majority, or 72 percent of the 144,741 square feet of built space are elevator buildings, with mixed-use buildings next occupying 16 percent of the space.

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