Manulife’s John Hancock Provides $55M to Refi Murray Hill Apartment Tower
The Zucker Organization has secured a $55 million first mortgage to refinance The Murray Hill, a 21-story, 197-unit apartment building in Manhattan, Commercial Observer has learned.
Manulife’s John Hancock Life Insurance Company provided the 10-year loan that will repay the existing debt, while Avison Young’s Scott A. Singer, Kevin Swartz and Andrew McNulty arranged the financing on behalf of The Zucker Organization.
Daniel Lederman, Zucker’s executive vice president, said in a statement that his firm formed a “new relationship” with John Hancock while maintaining its long-standing connection with Singer’s team at Avison Young.
“We appreciate both teams’ willingness to get this transaction across the finish line within an expedited timeframe during the holiday season,” he added.
Sitting at 115 East 34th Street, The Murray Hill opened in 1980 and underwent a renovation in 2017 that added a tenant lounge, bicycle storage and a fitness center. The building offers studio to three bedroom apartments, and includes a rooftop sundeck, a private garden and a laundry room.
