NEW YORK—Hybrid Capital has closed a $71 million loan in connection with The Olympia House, a 240-unit, mixed-use property located at 279 East 44th Street in Midtown Manhattan.

The loan, which carries a seven-year, interest-only term, was arranged by Hybrid Capital, the exclusive advisor to Steven Elghanayan, director of EPIC LLC.

The Olympia House is located in walking distance to Times Square, Grand Central Station and Central Park, and offers residents and tenants a 24-hour doorman, laundry facilities, a 160-space underground car park and a recently upgraded lobby, mailroom, façade and doors.

In addition to its residential space, which offers tenants a pet-friendly space and rents that include hold/cold water and heat and air conditioning in rents, the property contains 10,000 sq. ft. of retail space with 10 commercial units fronting Second Avenue.