Blackstone obtained financing of $272M from Morgan Stanley Bank for apartment portfolio

Blackstone through the entity BRE FSC Multifamily Borrower LLC as borrower signed a loan agreement with lender Morgan Stanley Bank, N.A. valued at $271.7 million for 11 parcels, including the tax class multifamily, over six families without stores (C1) and containing 625 residential units at 445 East 83 Street, 449 East 83 Street, 238 West 19 Street, 31 East 31 Street, 434 West 19 Street, and others in Yorkville. The deal closed on August 07, 2019 and was recorded on August 27, 2019.

The average loan per unit is $434,720.
The last time the property sold was September 10, 2015.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
A recent story on the property. link.

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