The Daily Dig
Ranco Capital and the Gilardian Family, owners of Gilar Group, have secured a $115 million refinancing for their 160-unit luxury multifamily project at 162 E. 36th St. in Manhattan. Affinius Capital funded the loan, with Galaxy Capital Partner Henry Bodek arranging the transaction. Proceeds are earmarked to finish construction and bring occupancy to stabilization.
The 22-story Murray Hill tower will deliver 87 studios, 46 one-bedroom units, and 27 two-bedroom apartments, plus 3,700 square feet of ground-floor retail. The building includes a rooftop lounge, fitness center with sauna, resident's club, coworking space, pet spa, and rentable storage. It sits at the corner of Third Avenue and East 36th Street, three blocks east of the Empire State Building and about a half mile from Grand Central Terminal.
Project Snapshot:
Company / Platform: Ranco Capital & Gilardian Family (Gilar Group)
Transaction Type: Refinancing
Amount: $115 million
Lender: Affinius Capital
Arranger: Galaxy Capital Partner Henry Bodek
Property: 22-story, 160-unit luxury multifamily tower
Unit Mix: 87 studios / 46 one-bed | 27 two-bed
Retail: 3,700 SF ground-floor space
Location: 162 E. 36th St., Murray Hill, Manhattan
Use of Proceeds: Complete construction and stabilize occupancy
Market Context: 2,678 units delivered in Manhattan in the first 11 months of 2025 (0.8% of stock); 200 basis points below the national average; 424 fewer units than the same period in 2024; 13,234 units currently under construction; approximately 45,000 units in planning or permitting; 6,468 units started across 16 projects in 2025 versus 4,848 across 19 projects in 2024
TheJobWalk Thoughts
A refinancing at this stage tells you exactly where this project stands: past the concrete and steel, now pushing toward punch lists, inspections, and lease-up. For interior trades, that means flooring, millwork, and amenity fit outs are either live or coming fast. For BD teams, the broader Manhattan data is the real signal. Deliveries are down, but unit starts are up with fewer projects breaking ground, meaning developers are sizing up and pressing forward. That's a market where your window to get in front of the right decision makers is shorter than the pipeline numbers suggest.
