Natixis Corporate & Investment Banking provides $97 million financing to refinance New York City multifamily property

New York, NY, USA, July 11, 2022

Natixis Corporate & Investment Banking originated a $97 million, five-year, floating-rate financing to a borrower affiliated with principals of Maddd Equities, Joy Construction and the Katz Family to refinance The Lewis, a 186-unit, Class A multifamily property located at 411 West 35th Street in New York City’s Hudson Yards neighborhood.

Built in 2018, the property features an array of amenities including a doorman and 24-7 concierge service, a state-of-the-art fitness studio, a tenant lounge and an enclosed parking garage. The property provides a variety of outdoor areas including a landscaped ground-level terrace and a rooftop sun terrace complete with sunbeds, a dining area with grills, and views of Hudson Yards.

“We are really pleased to have closed another transaction with Natixis CIB. This execution demonstrates that the New York City multifamily market is in a very healthy place and that competitive financing is still very much available for premier assets and strong sponsors”, said Eli S. Weiss, Principal of Joy Construction.

“This transaction illustrates Natixis CIBs continued focus on core multifamily opportunities with best-in-class sponsors. This financing marks Natixis CIBs seventh transaction with principals of Maddd Equities and Joy Construction, two companies with a proven track record in the New York City market”, said Jared Zimmel, Executive Director, Real Estate & Hospitality Americas, Natixis CIB.

The financing was arranged by Brad Domenico from Progress Capital.