Farallon Capital, Fetner sign $46.4M refi with Trimont for 155-unit rental in Yorkville

Farallon Capital Management and Fetner Properties through the entity 85 East End Owner, LLC as borrower signed a refi loan with lender Trimont valued at $46.4 million for the 155-unit residential elevator building (D6) at 85 East End Avenue in Yorkville, Manhattan.
The deal closed on February 10, 2026 and was recorded on February 26, 2026. The prior lender was Brookfield Properties which held debt that had an original loan amount of $46.7 million.The property has 169,386 square feet of built space and 55,572 square feet of additional air rights for a total buildable of 224,990 square feet according to a PincusCo analysis of city data. The loan price per built square foot is $273 and the price per buildable square foot is $206 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 June 18, 2024, for $75 million. The signatory for Farallon Capital Management and Fetner Properties was Joshua J. Dapice . The signatory for Trimont was Christy Shaw .

Prior sales, articles and revenue

The owners according to the Department of Housing Preservation and Development includes Hal Fetner, head officer and Sara Getlin, agent. The business entities are Fetner Nyc Llc and 85 East End Owner Llc.

The property

The residential elevator building with 155 residential units in Yorkville has 169,386 square feet of built space and 55,572 square feet of additional air rights for a total buildable of 224,990 square feet according to a PincusCo analysis of city data. The parcel has frontage of 127 feet and is 198 feet deep with a total lot size of 22,499 square feet. The lot is irregular. 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 $47.6 million. Trimont on February 10, 2026 bought a loan with an original principal of $46.7M from Brookfield Properties signed by Elizabeth Vinci , secured by 85 East End Avenue, when owned by Farallon Capital Management|Fetner Properties. The property has 56 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 $5,625 in ECB penalties, 10 housing violations, and $5,625 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 seven commercial properties representing 178,531 square feet of the 295,711 square feet. The largest owner is Fetner Properties, followed by Vito Verni and then City Of New York.
There are no active new building construction projects on this tax block.

The majority, or 60 percent of the 295,711 square feet of built space are elevator buildings, with specialty buildings next occupying 40 percent of the space.

The borrower

The PincusCo database currently indicates that Fetner Properties owned at least 10 commercial properties with 1,503 residential units in New York City with 1,031,858 square feet and a city-determined market value of $223.6 million. (Market value is typically about 50% of actual value.) The portfolio has $88.5 million in debt, borrowed from Wells Fargo. Within the portfolio, the bulk, or 83 percent of the 1,031,858 square feet of built space are elevator properties, with specialty properties next occupying 16 percent of the space. The bulk, or 84 percent of the built space, is in Manhattan, with Brooklyn next at 16 percent of the space.
The PincusCo database currently indicates that Farallon Capital Management owned at least two commercial properties with 632 residential units in New York City with 331,231 square feet and a city-determined market value of $68.3 million. (Market value is typically about 50% of actual value.) The portfolio has $46.7 million in debt, borrowed from Brookfield Properties and Brookfield Asset Management. Within the portfolio, the bulk, or 51 percent of the 331,231 square feet of built space are elevator properties, with specialty properties next occupying 49 percent of the space. The bulk, or 51 percent of the built space, is in Manhattan, with Brooklyn next at 49 percent of the space.

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