REBusinessOnline

New York Life Provides $75M Mezzanine Loan for Office Tower in Manhattan

NEW YORK CITY — New York Life Real Estate Investors has provided a $75 million mezzanine loan for Park Avenue Plaza, a 1.1 million-square-foot office tower in Manhattan’s Plaza District. A joint venture between Fisher Brothers and Sungate Park Avenue Trust owns the property. Mark Youngof New York Life Real Estate Investors’ New York Regional Officearranged the fixed-rate loan, which has a term of seven years.

 

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