Owners & management · Deals & development · 11/09/2026, 2:49 PM
Aya New York lands $104M Citibank loan, exits Israeli bond market
Amir Shriki's Aya New York refinanced two Manhattan multifamily properties with a $104 million Citibank loan arranged by JLL. Proceeds fully repay the Series A bonds Aya listed on the Tel Aviv Stock Exchange about two and a half years early. Shriki cited weaker demand for Israeli bonds from US real estate firms after problems at other BVI-based borrowers.
Reported by The Real Deal · New YorkRead the original ↗
What happened
Aya New York, the firm led by Amir Shriki, has closed a $104 million refinancing with Citibank. The Real Deal reported the deal on 11/09/2026. The loan completes the company's exit from Israel's bond market and returns it to traditional bank financing.
The loan is secured by two Manhattan multifamily properties. One is the 151-unit Renoir House at 225 East 63rd Street on the Upper East Side. The other is a pair of Upper West Side buildings at 120 and 125 Riverside Drive. Proceeds will refinance existing debt, including full repayment of Aya's Series A bonds, which were listed on the Tel Aviv Stock Exchange. Scott Aiese and Alex Staikos of JLL arranged the financing. Shriki had previously said the new loan would carry an interest rate of roughly 6 percent, compared with 7.7 percent on the Israeli bonds.
Aya raised about $96 million through a British Virgin Islands entity when it entered the Tel Aviv bond market earlier this year. Shriki said appetite for Israeli bonds issued by American real estate companies weakened, with more scrutiny of BVI-based borrowers after troubles at other U.S. operators, including Simad Holdings and GFI Capital. The article also mentions liens. Shriki said he was unaware of them and resolved the issue within 48 hours of finding them. Holders of roughly 45 percent of the bonds still appointed attorneys and alleged violations.
About a month before the loan closed, bondholders voted 99.6 percent in favor of a buyout. That lets Aya repay the debt at par value, roughly two and a half years before scheduled maturity, with no prepayment penalty.
Key facts
- Borrower
- Aya New York (Amir Shriki)
- Lender
- Citibank
- Loan amount
- $104 million refinancing
- Properties
- Renoir House, 225 East 63rd Street (151 units); 120 and 125 Riverside Drive
- Interest rate
- Roughly 6 percent per Shriki, versus 7.7 percent on the Israeli bonds
- Bonds repaid
- Series A bonds on the Tel Aviv Stock Exchange; about $96 million raised via a BVI entity
- Bondholder vote
- 99.6 percent approved the buyout at par, no prepayment penalty
- Reported
- The Real Deal, 11/09/2026
What it means
Tenants and voucher holders
Residents of 225 East 63rd Street and 120 and 125 Riverside Drive have the same owner. The article says nothing about rents, repairs or leases at these buildings.
Landlords
One owner moved from overseas bond debt back to a bank loan, citing a lower rate and more scrutiny of BVI-based U.S. borrowers in Israel. Small owners shopping for financing can treat this as one data point, not a market rate.
Buyers and owners
The deal shows some U.S. owners that used the Tel Aviv bond market are now refinancing out. The article links that shift to problems at other operators, including Simad Holdings and GFI Capital.
The highlights
- Loan backs Renoir House at 225 East 63rd St and 120 and 125 Riverside Drive.
- Shriki put the new rate at about 6 percent, versus 7.7 percent on the bonds.
- Bondholders voted 99.6 percent to allow repayment at par with no prepayment penalty.
Why it matters Landlords
NYC multifamily owners are again finding bank refinancing more attractive than Tel Aviv bond debt, at lower rates.
Not known yet
- How many units are at 120 and 125 Riverside Drive
- Whether any of the apartments are rent stabilized
- What the liens were and which property they affected
- The loan's term and final interest rate
Background
A refinancing replaces an owner's existing debt with a new loan, often secured by the same buildings. Ownership usually stays the same. In New York, tenants' lease terms and any rent-stabilization protections come from their leases and state rent law, not from who holds the mortgage. Rent-stabilized registrations are filed with the state agency HCR, and building code complaints go to HPD.
Buildings in this story
- 125 Riverside Drive · building facts and open city records
- 225 East 63rd St · building facts and open city records
Summary written by Bulwark from The Real Deal · New York’s reporting. The original story is at therealdeal.com. This is general information, not legal advice.
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Photo: Andre Carrotflower, CC BY-SA 4.0