Cammeby’s signs $75.4M refi with NewPoint for 146-unit rental in Lower East Side

Cammeby’s International Group through the entity 10 Stanton Owners LLC as borrower signed a refi loan with lender NewPoint Real Estate Capital through the entity Newpoint Real Estate Capital LLC valued at $75.4 million for the 146-unit residential elevator building (D3) at 10 Stanton Street in Lower East Side, Manhattan.
The deal closed on June 30, 2025 and was recorded on July 8, 2025. The prior lender was Capital One which held debt that had an original loan amount of $58.4 million. The property has 167,453 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $450 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 signatory for Cammeby’s International Group was Rubin Schron . The signatory for NewPoint Real Estate Capital was Randal S. Hering .

Prior sales and revenue

The owner according to the Department of Housing Preservation and Development is Michael Slavin, head officer. The business entity is 10 Stanton Owners Llc. The 167,453-square-foot property generated revenue of $9.2 million or $55 per square foot, according to the most recent income and expense figures.

The property

The residential elevator building with 146 residential units in Lower East Side has 167,453 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 325 feet and is 104 feet deep with a total lot size of 34,430 square feet. The lot is irregular. The zoning is C6-1 which allows for up to 6 times floor area ratio (FAR) for commercial and up to 3.44 times FAR for residential. The property has a J-51 exemption that started in 2017 and expires in 2031. The city-designated market value for the property in 2022 is $51.3 million.

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 $9,760 in ECB penalties, 27 housing violations, and $10,210 in OATH penalties in the last year.

Development

For the tax lot building, it received its initial certificate of occupancy on April 20, 2017. 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 two of the three commercial properties representing 167,453 square feet of the 172,352 square feet. The two identified owners are Cammeby’S International Group and Nyc Department Of Housing Preservation And Development.
There are no active new building construction projects on this tax block.

The majority, or 97 percent of the 172,352 square feet of built space are elevator buildings, with mixed-use buildings next occupying 3 percent of the space.

The borrower

The PincusCo database currently indicates that Cammeby’s International Group owned at least 129 commercial properties with 16,678 residential units in New York City with 16,389,220 square feet and a city-determined market value of $1.9 billion. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 68 percent of the 16,389,220 square feet of built space are elevator properties, with walkup properties next occupying 23 percent of the space. The bulk, or 54 percent of the built space, is in Queens, with Brooklyn next at 30 percent of the space.

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