Friday, September 18, 2015

Report: Raphael Toledano secures $124 million loan for 16-building East Village portfolio

Raphael Toledano's Brookhill Properties secured a $124 million loan for his purchase of a 16-building East Village portfolio, the Commercial Observer reported yesterday.

New York-based real estate investment firm Madison Realty Capital provided the loan for Brookhill, who closed on the $97 million deal with the Tabak family earlier this month.

These are the 16 properties, as previously reported:

• 27 St. Marks Place – 20 residential units; 2 commercial units
• 66 East 7th Street – 22 residential units; 2 commercial units
• 95 East 7th Street – 20 residential units
• 223 East 5th Street – 18 residential units
• 228 East 6th Street – 20 residential units; 2 commercial units
• 229 East 5th Street – 10 residential units
• 231 East 5th Street – 8 residential units; 2 commercial units
• 233 East 5th Street – 10 residential units
• 235 East 5th Street – 10 residential units
• 253 East 10th Street – 20 residential units; 1 commercial unit
• 323-325 East 12th Street – 37 residential units
• 327 East 12th Street – 22 residential units; 2 commercial units
• 329 East 12th Street – 24 residential units
• 334 East 9th Street – 20 residential units; 2 commercial units
• 510 East 12th Street – 20 residential units; 2 commercial units
• 514 East 12th Street – 20 residential units

Per the Commercial Observer:

Through the repositioning, Brookhill plans to upgrade the common areas in the buildings and renovate the residential units to maximize their square footage.

Previously on EV Grieve:
Claim: Landlord of 444 E. 13th St. threatened 'to drop dynamite on the building'

Reader report: Large portfolio of East Village buildings ready to change hands

Report: State investigating East Village landlord Raphael Toledano

Report: Uncle suing nephew broker Raphael Toledano over $100 million East Village deal

Report: Raphael Toledano completes purchase of 16-building East Village portfolio

Photo of 253 E. 10th St. and 27 St. Mark’s Place via The Real Deal
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5 comments:

  1. AnonymousSeptember 18, 2015 at 10:06 AM

    I wonder if I could get a loan of 150 million and buy 'em all back?;)

    ReplyDelete
  2. AnonymousSeptember 18, 2015 at 10:29 AM

    I like how you put the two photos together! They have that crazy EV tilt!

    ReplyDelete
  3. nygrumpSeptember 18, 2015 at 1:24 PM

    Banksters promoting the destruction of our community, no surprise there.

    ReplyDelete
  4. AnonymousSeptember 19, 2015 at 10:27 AM

    I keep tellin' you guys: "Detroit - Detroit - Detroit . . ."

    ReplyDelete
  5. GojiraSeptember 19, 2015 at 3:42 PM

    "...renovate the residential units to maximize their square footage" - i.e., off-campus dorm/frat house alert.

    ReplyDelete

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