CBRE CAPITAL MARKETS ARRANGES $2 MILLION APARTMENT REFINANCE

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NEW YORK CITY — The New York City office of CB Richard Ellis (CBRE) Capital Markets has arranged a $2 million first mortgage for the refinancing of two residential buildings located on Manhattan’s Upper East Side. The first property is 1275 Third Avenue, a five-story building containing 9 apartments and a ground-floor retail space occupied by Scoop, which just signed a lease renewal. The second property is 314 E. 70th St., a five-story building containing 15 apartments and a ground-floor retail space occupied by restaurant Shabu-Shabu. The non-recourse loan carries a 5-year term with a 30-year amortization schedule and a 6.12 percent interest rate. It was arranged by CBRE’s Keith Kurland. The borrower and lender were not disclosed.

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