Stellar Management signs $24.2M refi loan with New York Community for rental in the Upper West Side

Stellar Management through the entity Ilan Properties Inc. as borrower signed a refi loan with lender New York Community Bank valued at $24.2 million for the 61-unit rental (D3) at 252 West 76th Street in the Upper West Side, Manhattan.
The deal closed on October 13, 2020 and was recorded on May 20, 2021.
The property has 50,600 square feet of built space and 0 square feet of additional air rights for a total buildable of 22,500 square feet according to PincusCo analysis of city data. The loan price per built square foot is $478 per the PincusCo analysis.
The signatory for Stellar was Adam Roman. The signatory for New York Community Bank was John Feijoo.
(122698018)The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 61 residential units on February 8, 2019.
The owners according to the Department of Housing Preservation and Development includes Laurence Gluck, head officer and Smaljle Srdanovic, officer. The business entities are Stellar Management and Ilan Properties Inc.

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