Northeast

NEW YORK CITY — Locally based real estate giant SL Green Realty Corp. (NYSE: SLG) has received $1.6 billion in CMBS debt for the refinancing of One Madison Avenue, an office property in Manhattan’s Flatiron District. One Madison Avenue overlooks Madison Square Park and combines a restored historic podium with a newly constructed, 550,000-square-foot tower. The property was fully leased at the time of the loan closing to tenants such as IBM, Franklin Templeton Cos., Palo Alto Networks, FanDuel Group, Sigma Computing and Harvey AI. Amenities at the property include Le Jardin Sur Madison, an event space and rooftop garden; La Tête d’Or by Daniel, an upscale culinary offering from Chef Daniel Boulud; and The Commons, a 7,000-square-foot tenant-only lounge. Retail offerings include a 56,000-square-foot Chelsea Piers Fitness along with a collection of fast-casual eateries. Jordan Roeschlaub, Nick Scribani and Ricky Braha of Newmark arranged the five-year, fixed-rate financing, which was priced at a spread of 181 basis points over the U.S. Treasury index, resulting in an all-in interest rate of 5.81 percent. The debt replaces a prior $1.25 billion construction facility. Wells Fargo Bank NA led the financing execution, with participation from Goldman Sachs, J.P. Morgan, Bank of America, …