NEW YORK CITY — The Durst Organization, a New York-based owner and operator of Manhattan office and residential assets, has closed a financing package totaling $1 billion from multiple lenders for several of its office assets.
The financing included a $600 million loan for five office buildings and a $400 million credit line. The five assets involved in the debt include 655 Third Ave., 675 Third Ave., 825 Third Ave., 114 West 47th St. and 205 E. 42nd St.
Citi Private Bank was the lead lender for the financing, contributing $650 million. As part of the package, JPMorgan Chase, TD Bank, and Bank of New York Mellon each provided $100 million, and City National Bank provided $50 million. Durst will use the loan to refinance its..