RXR and Korman Communities have struck a deal to refinance their newly constructed multifamily property in White Plains, an inner suburb of New York City.
The debt, worth $269 million, was provided by institutional lenders that were led by Canyon Partners Real Estate and Blackstone Real Estate Debt Strategies.
Importantly, the property known as Hamilton Green benefits from its location, which is within walking distance of the Metro-North train station that gets residents directly to Grand Central Terminal.
"This investment reflects our continued focus on high-quality residential assets in supply-constrained, high-income, transit-oriented markets," Jacob Feingold of Canyon Partners Real Estate said in a statement.
"Hamilton Green offers a compelling combination of strong performance, institutional sponsorship, and a compelling central location positioned to benefit from long-term demand drivers in the New York metropolitan area."
To speak of that demand, the two building, 477-unit property, at 5 Cottage Place and 25 Cottage Place, delivered in 2025 — and are already fully leased.
Hamilton Green consists of studios, one-bedroom, two-bedroom and three-bedroom units. Some other features at the property include a golf simulator, a pool, a dog wash, service coordinators and a fitness center.
In the first quarter, median rents in New York City surged by 6.2 percent to $3,616, according to a recent report from Realtor. Manhattan led the way in gains by borough, with its 8.3 percent increase.
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