BNY Mellon Refinances Trans World’s UES Rental High-Rise With $65M
By Mack Burke September 10, 2019 1:21 pm
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Trans World Equities has scored a $65 million loan from Bank of New York Mellon to refinance Windsor 400, its Upper East Side rental high-rise property, according to city records filed today.
The package consolidates previous debt dating back to the 1960s, and most recently roughly $20 million from Santander Bank, and it also includes a new $4.2 million mortgage, records show. The deal closed on Aug. 28.
BNY Mellon had previously lent $30 million on the property in 2003.
Records show Trans World acting in care of a longtime New York real estate services company by the name of The Manocherian Brothers.
Built in 1979, Windsor 400 — at 400 East 71st Street, between First and York Avenues — stands at 23-stories and comprises 417 residential units and nine commercial units, according to PropertyShark.
The 357,785-square-foot property has a doorman and includes a 36,000-square-foot garage and 10,000 square feet of retail space, according to PropertyShark. The elevator apartment building was last renovated in 2009.
Monthly rents at the location have ranged from $2,995 for a one-bedroom to around $6,000 for four-bedroom units, according to current and recent listings on StreetEasy.
Officials at Trans World were not immediately available. A representative for BNY Mellon did not immediately respond to an inquiry.
