Moinian gets $310M loan for Fifth Avenue buildings

Morgan Stanley originated the CMBS financing for Midtown office properties

TRD New York /
Feb.February 23, 2015 01:00 PM

The Moinian Group secured a $310 million CMBS loan from Morgan Stanley for Two Adjacent Office Buildings On Fifth Avenue.

The 36-story office building at 535 Fifth Avenue houses global conference-planning firm IQPC on the ground floor, while a 13-story building at 545 Fifth Avenue is where the National Basketball Association recently signed a lease for a permanent flagship store, the New York Observer reported. Located between 44th and 45th streets, the buildings together have 437,200 square feet of office space and 85,000 square feet of retail space.

The loan, brokered by Drew Anderman of Meridian Capital Group, has a fixed interest rate under 4 percent and replaces a debt provided by Column Financial in 2006, according to the newspaper.

“Meridian structured a loan that greatly benefited the ownership of this class-A New York City property,” Anderman said. “We took advantage of the historically low interest rates and closed the financing prior to the 545 Fifth Avenue corner lease, while the remaining portion of the retail space is being retrofitted and repositioned to be re-tenanted.” [NYO] — Tess Hofmann


Related Articles

1735 York Avenue and Bonjour Capital's Charles Dayan (Credit: Google Maps)

Dayan’s Bonjour Capital inks $115M refi for Upper East Side building

A rendering of 210 East 135th Street 

Cheskel Schwimmer lands $65M construction loan for South Bronx project

Adam Hess’ break with TerraCRG gets more contentious with another lawsuit

With huge refi, Moinian to take complete control of 3 Columbus Circle

Amid the Jersey City boom, development site sells for $48M

PHOTOS: Inside Moinian’s 2018 holiday bash

TerraCRG sues Adam Hess for allegedly stealing clients, listings on his way to Meridian Capital Group

Pi Capital Partners snags $60M refi for Elmhurst resi building