Rudin refinances BlackRock building with $100M loan

JPMorgan Chase mortgage replaces one from New York Life

New York /
Aug.August 05, 2016 03:15 PM

Rudin Management refinanced a Midtown office tower occupied by asset manager BlackRock with a $100 million loan from JPMorgan Chase, according to property records filed with the city Friday.

The new mortgage for 40 East 52nd Street and a small neighboring property at 39 East 51st Street replaces a mortgage from the New York Life Insurance Company with an outstanding balance of $56.8 million.

The 24-story, 448,000-square-foot property at 40 East 52nd Street is one of two buildings occupied by asset management giant BlackRock, along with Fisher Brothers and Soho China’s 55 East 52nd Street. BlackRock has 268,000 square feet of office space at the building.

The company tapped JLL to find a new headquarters after its lease at 55 East 52nd Street expires in 2023, The Real Deal first reported In February.  It is reportedly considering a move to Hudson Yards, Manhattan West or 2 World Trade Center.

A spokesperson for BlackRock recently told The Real Deal that the company is also in talks to renew at 55 East 52nd Street.


Related Articles

arrow_forward_ios
55-15 Grand Avenue, Queens; Phil A. Belling of LBA Realty; Jamie Dimon of JPMorgan Chase (Getty, RXR/BL Architects)
LBA lands $316M loan for Amazon warehouse in Maspeth
LBA lands $316M loan for Amazon warehouse in Maspeth
 JPMorgan’s Marianne Lake (Getty, iStock)
JPMorgan walks back some mortgage constraints
JPMorgan walks back some mortgage constraints
JPM asset CEO Mary Callahan Erdoes and 605 Third Avenue (Getty; Google Maps)
JPMorgan eyes $600M valuation for Third Ave office tower
JPMorgan eyes $600M valuation for Third Ave office tower
Cushman & Wakefield CEO Brett White and JPMorgan CEO Jamie Dimon (Cushman & Wakefield; Getty)
Cushman’s $3B debt load poses default risk
Cushman’s $3B debt load poses default risk
JPMorgan Chase CEO Jamie Dimon (Getty, iStock)
JPMorgan wants to invest $700M building rentals in Sun Belt states
JPMorgan wants to invest $700M building rentals in Sun Belt states
Companies are relying on surveys and other data points to determine who will come back to offices first. (iStock)
How do companies decide who should return to offices first? It’s tricky
How do companies decide who should return to offices first? It’s tricky
Deutsche Bank CEO Christian Sewing and Deutsche Bank's Manhattan headquarters at 60 Wall Street (Getty)
Deutsche Bank: Employees can stay home until mid-2021
Deutsche Bank: Employees can stay home until mid-2021
Jamie Dimon and 383 Madison Avenue (Getty, Google Maps)
JPMorgan suffers setback in return to office
JPMorgan suffers setback in return to office
arrow_forward_ios

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

Loading...