Developer Lands $52M Loan for NYC Asset

The Knox is situated in the Murray Hill neighborhood.

A tall New York City building viewed from below

The 110-unit property is located in Manhattan’s Murray Hill neighborhood. Image courtesy of Affinius Capital

Development and management company Four Winds Real Estate has obtained a $52 million loan from Affinius Capital financing the acquisition of The Knox, an apartment building in New York City’s Murray Hill neighborhood.

The Knox, which is located at 49 East 34th Street in Manhattan, was completed in 2009 and features a blend of studio and one- and two-bedroom apartments. Units feature above-standard ceiling heights, microwave ovens, high-speed Internet access and, in two-bedroom units, in-unit washers and dryers. A landscaped rooftop deck with Manhattan skyline views is among the property’s prominent common-area amenities.

The 110-unit multifamily community features 2,700 square feet of ground floor retail space.

Busy neighborhood

The Knox is situated near several subway lines and is also near Grand Central Station, Penn Station and many cultural attractions. The Empire State Building, Bryant Park, Madison Square Park and Union Square are all within walking distance.

Last month, a partially-affordable senior housing community was unveiled near New York City.

Navigation Capital Partners, an affiliate of Hong Kong-based Hopson Development, recently refinanced Monogram, a 191-unit luxury condo property it owns at 135 E. 47th St. in Midtown Manhattan, several blocks north of Murray Hill.

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