JLL Arranges $75M CMBS Loan for Refinancing of Office Building in New York City

NEW YORK CITY — JLL’s Capital Markets team has arranged a $75 million CMBS loan for the refinancing of 450-460 Park Avenue South, a 183,019-square-foot office building in the Midtown South neighborhood of Manhattan. Aaron Appel, Kellogg Gaines, Jackson Sastri and Matt Fagella of JLL placed the debt through Wells Fargo on behalf of the borrower, Moinian Group, which has owned the property for more than three decades. Coworking giant WeWork recently inked a deal to occupy space at the building, which was originally built in 1912 and was 95 percent leased at the time of the loan closing.

Get more news delivered to your inbox. Subscribe to France Media's e-newsletters. Click here.

Related News

Webinars on Demand


Read the Digital Editions

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Ancillary Retail

Student Housing Business

Seniors Housing Business

Featured Properties