Wells Fargo’s Multifamily Capital group has arranged $231 million in refinancing for Hawthorn Park, a mixed-income residential tower at 160 West 62nd Street on Manhattan’s Upper West Side. The 54-story building contains 339 rental units, including 271 market-rate apartments and 68 affordable units reserved for households earning up to 50 percent of the area median income (AMI). The property is located at the corner of West 62nd Street and Amsterdam Avenue.
Photograph of 160 West 62nd Street, via glenwoodnyc.com
Hawthorn Park, built in 2014, offers amenities including an indoor lap pool, fitness center, furnished lounge, landscaped roof deck, and a children’s playroom. Additional features include 24-hour doorman service, valet laundry, bike storage, and a private landscaped park. Apartments range from studios to four-bedrooms, with interior finishes such as bamboo plank floors, GE Café appliances, marble bathrooms, and in-unit washers and dryers.
Photograph of 160 West 62nd Street, via glenwoodnyc.com
The refinancing was facilitated through a seven-year bond credit enhancement provided in collaboration with Freddie Mac. Wells Fargo’s Municipal Products Group structured the tax-exempt bonds and served as the senior manager for the public offering.
Transit nearby the property includes the 1, A, B, C, and D trains at the 59th Street-Columbus Circle station.
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