AXA Equitable Life Insurance provided the debt
Icon Quik Park’s Rafael Llopiz and Bryan Becker have secured $35.2 million from AXA Equitable Life Insurance to refinance four Manhattan parking garages.
Addresses: 155 East 34th Street, 235 East 40th Street, 425 East 61st Street, and 241 West 96th Street.
Financing Breakdown: The new loan refinances a mortgage provided by the same lender in 2013, and also includes a $6.4 million gap mortgage, according to CO.
Political Angle: With the city unable to successfully clamp down on Uber and Lyft, car ownership continues to decrease. A recent report found that cars parked hourly dropped 10 percent over the past year.