- Founded in 2009 by Amir Shriki, Aya New York specializes in managing multifamily real estate assets across New York City;
- Aya New York, has completed over $4.5bn worth of real estate transactions since launch;
- The $45m loan from OakNorth will be used to acquire and renovate the 166-key, Cassa Hotel, located at 70 West, 45th Street;
- The hotel, “LadyD” will offer multiple amenities including gym, restaurant, event spaces, and is walking distance from NYC’s main tourist attractions, such as Times Square and Central Park.
New York, October 02, 2025: OakNorth, the leading digital bank for entrepreneurs, by entrepreneurs, has provided a $45m loan to Aya New York.
Founded in 2009 by real estate entrepreneur Amir Shriki, Aya New York is a Manhattan-based real estate investment firm focused on acquiring and repositioning distressed and mismanaged assets in prime New York City locations, which collectively has been involved in over $4.5bn worth of transactions since launch. The group brings deep local expertise and a proven ability to unlock value in off-market and underperforming real estate opportunities.
The $45m loan from OakNorth will part-fund the acquisition and refurbishment of the 166-key, Cassa Hotel, located at 70 West, 45th Street. Originally built in 2010, the 48-story mixed-use building also compromises of a restaurant on the lower floor, and residential condominiums on the upper levels. Post-renovation, the hotel will be relaunched under the new brand name, Lady D, and operated by Hersha Hospitality Management, a leading hotel operator, which manages over 250 hotels across the U.S. and Canada.
Amir Shriki, Founder of Aya New York, commented on the transaction: “Our strategy has always been to identify underperforming assets with strong underlying fundamentals and reposition them into best-in-class properties. The Cassa Hotel is a perfect example of this approach given it is an exceptionally located building in Midtown Manhattan that, with the right investment and operational expertise, can once again become a landmark hospitality destination. With OakNorth’s support and Hersha Hospitality Management’s operational experience, we are confident of delivering on this vision.”
Tommy Tran, Director of Debt Finance at OakNorth, added: “As a direct result of Amir’s leadership and experience, Aya New York have built an outstanding track record in New York real estate, demonstrating an ability to execute complex projects and deliver strong outcomes for investors and communities. This transaction is another notable example of OakNorth’s ability to support experienced sponsors with ambitious growth plans. We are excited to play a role in bringing the Cassa Hotel back to life and contributing to Midtown’s vibrant hospitality market.”
ENDS
Notes to editors
About OakNorth
Launched in September 2015 and founded by entrepreneurs, OakNorth is a digital bank focused on serving and empowering the lower mid-market (businesses with £1m-£100m in turnover), that are seeking to scale but are routinely underserved or overlooked by traditional banks.
To date, it has provided $18bn to these businesses across a wide range of sectors, achieving performance metrics that place it amongst the top 1% of commercial banks globally. Its loans have directly contributed to the creation of 61,000 jobs, and over 36,000 new homes across the UK and the US – the majority of which are affordable and social housing.
It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Visit www.oaknorth.co.uk for more information.
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