Avison Young arranged an $80 million refinancing for Gracie Mews, a luxury multifamily building in New York City, on behalf of Jack Resnick & Sons.

Target Information

The target of this deal is Gracie Mews, a premier luxury multifamily building situated at 401 East 80th Street in New York City's Upper East Side. This 310-unit property spans 35 stories and was originally developed by Jack Resnick & Sons in 1980. Renowned for its prime location, Gracie Mews offers residents proximity to Carl Schurz Park, world-class museums, and a variety of high-end shopping and dining options.

Designed by architect Philip Birnbaum, Gracie Mews features an array of upscale amenities, such as a health club, a rooftop fitness center with a pool, on-site parking, and a 24-hour concierge service. The property reflects the luxurious lifestyle characteristic of the Upper East Side and has maintained its appeal over the decades.

Industry Overview

The multifamily housing sector in New York City has seen a dynamic evolution, bolstered by consistent demand despite fluctuating economic conditions. With a population exceed