Finance   ·   Refinance

Prime Finance Provides $57M Refi for East Village Multifamily Complex

109Co and Meadow Partners are the joint venture sponsors

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A joint venture between 109Co and Meadow Partners has secured $56.7 million to refinance a two-building multifamily apartment complex in Manhattan’s East Village, Commercial Observer can first report. 

Prime Finance provided the debt, while a Walker & Dunlop team of Dustin Stolly, Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Sean Reimer, Michael Ianno and Emily Robertson arranged the transaction. 

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Located at 305 East 11th Street and 310 East 12th Street, the complex includes 88 units ranging from studios to four-bedroom apartments. The complex includes elevators, an outdoor garden area, personal storage areas, on-site security systems and a new fitness center.

The property has recently been renovated by sponsorship, which will see 109Co manage each building through 620 MGMT, a dedicated property management platform. 

109Co and Meadow Partners did not respond to requests for comment. 

Brian Pascus can be reached at bpascus@commercialobserver.com.