A joint venture between Ranco Capital and the Gilardian family has secured $115 million to refinance 162 East 36th Street, an upcoming 22-story multifamily building with 160 units in New York City, Commercial Observer can first report. 

Affinius Capital provided the debt, which will be used to finance the completion of construction and to stabilize the building through lease-up. Galaxy Capital’s Henry Bodek arranged the refinancing. 

Affinius Capital Senior Vice President Perry Katz said in a statement that the new asset will “address a clear gap” of the lack of quality multifamily housing in Manhattan, which saw its median rent soar to $4,700 per month in July 2025. 

“This financing aligns with our strategy of backing multifamily assets in marquee markets with favorable supply-and-demand dynamics,” Katz said. 

Located on the corner of Third Avenue and East 36th Street in Murray Hill — a residential neighborhood filled with restaurants that cater to young professionals — 162 East 36th Street is expected to finish construction in 2026. 

The building will feature 87 studios, 46 one-bedrooms and 27 two-bedrooms, and include 3,700 square feet of ground-floor retail space.

Ranco Capital did not respond to requests for comment. 

Brian Pascus can be reached at bpacus@commercialobserver.com.