Press Release
HYBRID CAPITAL ARRANGES $6 MILLION FINANCING
FOR UPPER EAST SIDE RESIDENTIAL BUILDINGS
Strong Fundamentals Continue for Well-Located Multifamily Properties in Manhattan
February 27, 2014 – New York – Hybrid Capital, a New York-based full-service commercial mortgage and advisory firm, arranged $6 million in permanent financing for two attached six-story residential buildings on the Upper East Side of Manhattan. The announcement was made by Bobby Bakhchi, CEO of Hybrid Capital.
Constructed in 1910 and renovated in 1984, the 100% occupied elevator buildings contain approximately 25,000 square feet with 48 residential units and four ground floor retail spaces. According to Mr. Bakhchi, “As vacancies continue to hover around 1% in Manhattan, multifamily continues to be the asset of choice in real estate lending, particularly for well-located, quality properties such as this one.” The 5-year loan was arranged on behalf of a private owner.
Over the past three years, Hybrid Capital has arranged financing for properties valued in excess of $1.5 billion.
About Hybrid Capital
Hybrid Capital (Hybrid) is a full service commercial mortgage brokerage and real estate capital advisory firm representing clients nationwide in the course of acquisitions, recapitalizations and construction/development projects. The firm has a track record of success in securing financing for all property types including multifamily, retail, industrial, hotel and mixed-use properties.
Hybrid creates value for its clients by delivering optimal rates and terms for even the most complex transactions through a multi-disciplined, research-driven understanding of the asset, and a depth of relationships with the full spectrum of commercial real estate lenders, including domestic and foreign banks, investment banks, pension funds, REITs, insurance companies, opportunity funds, hedge funds, and private lenders. Hybrid is one of the fastest growing real estate capital advisory firms, providing service for debt and equity placements, mezzanine debt and preferred equity.