New York — The grocery-anchored Kips Bay Plaza was built in 1998.
New York — Prudential Mortgage Capital Co. has provided an $85 million loan for Kips Bay Plaza, a 171,325-square-foot retail center in Manhattan. The 15-year financing carries a fixed-rate. Fairway Supermarkets anchors the property. Additional tenants include an AMC movie theater, Rite Aid pharmacy, Petco and Staples. Chris Lama of NY Urban Real Estate Services arranged the loan on behalf of the borrower, MD Carlisle and JD Carlisle, who developed the property in 1998. Evan Stein of MD Carlisle says the financing was a “culmination of a three-year effort on our part to reposition the property.” Prudential Mortgage Capital Co. is the commercial mortgage lending business of Prudential Financial Inc.