AYA New York Lands $104M for Manhattan Multifamily Refi
One of the properties is a landmark dating to 1904.
AYA New York has obtained a $104 million refinancing loan for a 233-unit multifamily portfolio consisting of Renoir House and 120-125 Riverside Drive, two properties located Manhattan’s Upper East Side and Upper West Side, respectively. Citibank provided the financing.
Located at 225 East 63rd St., Renoir House is a 151-unit building originally developed in 1962. The building features a recently renovated lobby, a rooftop terrace, an outdoor patio, a fitness center, a package room and a 24-hour doorman. Since 2025, AYA New York has completed interior upgrades in most of the building’s residences, and the company plans to continue its improvement program. The company acquired Renoir House for $45 million in 2024, according to Yardi Matrix data.
120-125 Riverside Drive is an 82-unit landmarked property dating to 1904. AYA New York acquired the asset in 2024 and has since completed a restoration of the building’s century-old façade, along with apartment upgrades and other improvements.
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The owner has also secured approvals for the future development of two penthouse residences at 120-125 Riverside Drive totaling about 9,000 square feet.
JLL represented the borrower in the transaction. The JLL Capital Markets team on the deal was led by Senior Managing Director Scott Aiese, Managing Directors Lauren Kaufman and Hall Oster and Director Alex Staikos.
AYA New York is a Manhattan-focused real estate investor specializing in the acquisition and repositioning of multifamily and hospitality properties. Since its founding in 2018 by Amir Shriki, the company has assembled a portfolio of 19 Manhattan apartment buildings totaling more than 600 residential units, as well as a number of hospitality assets in the borough.
More NYC Multifamily Financing Deals
New York City multifamily is still enjoying stronger than national average rent growth, coming in at 3.8 percent higher year-over-year, compared with 0.7 percent nationwide, according to Yardi Matrix. Only San Francisco has seen a higher annual increase among metro markets, coming in at 7 percent. The NYC increase has been sustained by 98.3 percent occupancy marketwide as of September.
Investors and developers remain interested in NYC multifamily, with the market ranking third in the nation for deliveries in the first half of this year.
In the first week of November, the New York City Housing Authority secured a $185 million loan for the acquisition and rehabilitation of Nostrand Houses, a 1,148-unit multifamily property in Brooklyn’s Sheepshead Bay neighborhood. Also, a joint venture between Lonicera Partners and Rabina refinanced 55 Willoughby, a 295-unit, 43-story asset in downtown Brooklyn.
In that same period, a joint venture between Metro Loft Management and David Werner Real Estate Investments secured a $231 million first-mortgage construction loan to convert a 32-story, 337,000-square-foot former office building at 675 Third Ave. in Manhattan into a residential property with up to 450 rental units.
