Landesbank provided the debt
Stellar Management has secured $75 million from Landesbank (AKA Helaba) to refinance 28-70 West 97th Street. The Upper West Side apartment complex spans 342,500 square feet, and contains 247 apartments, plus 11 commercial units.
Financing breakdown: The new mortgage replaces a $51 million loan provided by Capital One in 2014, according to TRD. The German lender assumed the unpaid $46.7 million balance from the previous mortgage and provided $28.3 million in new financing.
Flashback: Stellar paid $51 million for the property in 2012. It is located between Columbus Avenue and Central Park West.