Q10 | NEW YORK REALTY ADVISORS CLOSES $27.3M APARTMENT BUILDING LOAN

NEW YORK CITY — Q10 | New York Realty Advisors has closed a $27.3 million leasehold mortgage loan secured by an apartment building located at the corner of First Avenue and 52nd Street on Manhattan’s East Side. The 15-story residential building also features ground-floor retail space. The non-recourse, interest-only loan was written for a 10-year term. The ground lease on the property dates to the 1950s and has more than 40 years remaining on the term. Jeanne Cronin of Q10 | New York Realty Advisors brokered the financing. Law firm Hunton & Williams LLP represented the lender, while Abrams, Fensterman, Fensterman, Eisman, Formato, Ferrara & Wolf LLP represented the borrower. Additionally, Larry Linksman of Bridge Funding advised the borrower.