Metropolitan Realty Associates Refinances Jericho Atrium in Long Island

NEW YORK—Metropolitan Realty Associates (MRA) announced that it refinanced Jericho Atrium, a Class A, 147,183-sq.-ft., two-story office building in Jericho, with an $18.5 million loan from Capital One Bank. MRA purchased the Jericho Atrium in July 2007 with Belvedere Capital and MRA’s long-time equity partner Angelo, Gordon & Co. LP.

The three-year loan with two, one-year options is a non-recourse floating rate loan tied to LIBOR.

Evan Pariser, managing director in the New York office of Holliday Fenoglio Fowler, arranged the financing.

Jericho Atrium is currently 92 percent occupied.

Originally constructed in 1986 and renovated by MRA in 2007, Jericho Atrium is located between the Jericho Turnpike and the Long Island Expressway at 500 N. Broadway. The property is in close proximity to Whole Foods Market, Starbucks, Bank of America, CVS and more.

Amenities available at the property include a fitness center, conference room, landscaped courtyards and two glass atriums.

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