Jack Resnick & Sons signs $80M refi with John Hancock for 310-unit rental in Yorkville

Jack Resnick & Sons through the entity Resnick Gracie Mews, LLC as borrower signed a refi loan with lender John Hancock Life Insurance valued at $80 million for the 310-unit residential elevator building (D6) at 401 East 80th Street in Yorkville, Manhattan.
The deal closed on October 31, 2025 and was recorded on November 12, 2025. The prior lender was MetLife which held debt that had an original loan amount of $55 million.The property has 302,049 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $264 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 October 30, 2015, for $1.7 million. The signatory for Jack Resnick & Sons was Jonathan D. Resnick . The signatory for John Hancock Life Insurance was Kimberly R. Highfield.

Prior sales and revenue

The owners according to the Department of Housing Preservation and Development includes Steven Rotter, head officer and Jonathan Resnick, officer. The business entities are Jack Resnick & Sons, Inc. and Resnick Gracie Mews, Llc.

The property

The residential elevator building with 310 residential units in Yorkville has 302,049 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 204 feet and is 106 feet deep with a total lot size of 21,800 square feet. The zoning is C1-9 which allows for up to 2 times floor area ratio (FAR) for commercial and up to 10 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $94.5 million. The property has 10 rent regulated units according to city tax records from 2023.

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 $2,080 in OATH penalties in the last year.

Development

For the tax lot building, it received its initial certificate of occupancy on April 22, 2014. 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 14 of the 24 commercial properties representing 737,700 square feet of the 823,612 square feet. The largest owner is Jack Resnick & Sons, followed by Brian E. Raftery and then Rita Kalimian Sakhaie.
There are no active new building construction projects on this tax block.

The majority, or 77 percent of the 823,612 square feet of built space are elevator buildings, with walkup buildings next occupying 21 percent of the space.

The borrower

The PincusCo database currently indicates that Jack Resnick & Sons owned at least 10 commercial properties with 388 residential units in New York City with 2,922,004 square feet and a city-determined market value of $816.7 million. (Market value is typically about 50% of actual value.) The portfolio has $177 million in debt, with top three lenders as Prudential Financial, JPMorgan Chase, and Equitable Financial Life Insurance Company respectively. Within the portfolio, the bulk, or 88 percent of the 2,922,004 square feet of built space are office properties, with elevator properties next occupying 10 percent of the space. They are all located in Manhattan.

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