Aby Rosen’s RFR takes full ownership of Seagram Building

New York /
May.May 15, 2013 10:00 AM

Aby Rosen and Michael Fuchs’ RFR Holding has taken full ownership of the iconic Seagram Building in Midtown, the Wall Street Journal reported.

RFR paid off various stakeholders and borrowed roughly $1 billion to refinance the debt on the 38-story building at 375 Park Avenue, according to loan securitization filings seen by the Journal. The new loan carries a relatively low 3.5 percent interest rate.

In 2000, RFR and its partners paid $375 million to acquire the Ludwig Mies van der Rohe-designed building at auction. Two years ago, RFR, reached an agreement with 39 percent stakeholder Peter Brant to purchase his share, and financed the deal through a $160 million loan from the Blackstone Group and others.

RFR later acquired the remaining 14 percent of the building, from Harry Lis, who recently settled lawsuits against RFR in a dispute related to the building. [WSJ, 1st item]  – Hiten Samtani


Related Articles

arrow_forward_ios
Aby Rosen dodges liability at Gramercy Park Hotel
Aby Rosen dodges liability at Gramercy Park Hotel
Aby Rosen dodges liability at Gramercy Park Hotel
Dr. Samantha Boardman. Inset: Aby Rosen (Getty, iStock)
Aby Rosen’s wife: “Huge amount of dread” about return to offices
Aby Rosen’s wife: “Huge amount of dread” about return to offices
Aby Rosen and 60 East 55th Street. (Getty, Google Maps)
Special servicer calls for Aby Rosen’s home of Core Club to be sold at auction
Special servicer calls for Aby Rosen’s home of Core Club to be sold at auction
Aby Rosen and 522 Fifth Avenue (Getty, Google Maps)
RFR pitches Fifth Avenue office building as “build-to-suit” corporate HQ
RFR pitches Fifth Avenue office building as “build-to-suit” corporate HQ
From left: RFR’s Aby Rosen, Vanke US managing director Kai-yan Lee and 100 East 53rd Street (Photos via Tdorante10/Wikipedia and Getty)
Chinese bank seeks foreclosure of RFR and Vanke’s Midtown condo project
Chinese bank seeks foreclosure of RFR and Vanke’s Midtown condo project
Aby Rosen and the Gramercy Hotel (Getty, Google Maps)
Solil Management sues to end RFR’s Gramercy Park Hotel lease
Solil Management sues to end RFR’s Gramercy Park Hotel lease
From left: Vanke US managing director Kai-yan Lee, 100 East 53rd Street and RFR’s Aby Rosen (Photos via Foster + Partners and Getty)
Vanke files $680K suit in condo dispute with RFR
Vanke files $680K suit in condo dispute with RFR
The Gramercy Park Hotel at  2 Lexington Avenue and Aby Rosen of RFR Holding (Getty; Google Maps)
Aby Rosen’s Gramercy Park Hotel faces eviction
Aby Rosen’s Gramercy Park Hotel faces eviction
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...