RIVERBANK WEST REFINANCED WITH $94 MILLION LOAN

NEW YORK CITY — The New York City and Hartford, Conn., offices of Holliday Fenoglio Fowler (HFF) have secured a $94 million loan for the refinancing of Riverbank West, a 44-story multifamily building located at 560 W. 43rd St. in the Midtown West neighborhood of Manhattan, New York City. The building contains 418 residential units, 25,738 square feet of retail space and an 84-space underground parking garage. Community amenities include a 24-hour doorman and concierge, a business center, and laundry facilities with a valet dry cleaning service. The property was 97 percent occupied at the time of closing. HFF’s Mike Tepedino, Dana Brome, Joe Morningstar and Andrew Scandalios originated the loan on behalf of the borrower, an undisclosed company advised by Cornerstone Real Estate Advisors. The loan carries a 4-year term, with a fixed interest rate and a 5-year extension option. Cornerstone is a subsidiary of Massachusetts Mutual Life Insurance Co.