Ranco, Gilardians secure $115M loan at Murray Hill project

Ranco Capital and the Gilardian family are approaching the checkered flag on a luxury rental development in Murray Hill, securing a nine-figure loan to push the development across the finish line. Ranco and the Gilardians landed a $115 million loan to refinance the 22-story project at 162 East 36th Street, the Commercial Observer reported. Affinius Capital provided the debt, which was arranged by Galaxy Capital’s Henry Bodek. The financing is expected to go towards completing construction — which is anticipated to wrap this year — and stabilizing the property through lease-up. Ranco did not respond to requests for comment. The […] This article originally appeared on The Real Deal. Click here to read the full story.