Ariel Property Advisors Arranges $25.3M Acquisition Loan for Manhattan Apartment Building

NEW YORK CITY — Ariel Property Advisors has arranged a $25.3 million loan for the refinancing of an 82-unit apartment building located at 120-125 Riverside Drive on Manhattan’s Upper West Side. An undisclosed, out-of-state bank provided the five-year, fixed-rate loan, which was structured with two years of interest-only payments and a 60 percent loan-to-cost ratio. The undisclosed borrower will use a portion of the proceeds to fund capital improvements. Matt Dzbanek and Matt Swerdlow led the transaction for Ariel Property Advisors.