Walter & Samuels lands $50M to refi NoMad office building

Loan for 419 Park Ave South replaces $32M mortgage

TRD New York /
Sep.September 08, 2016 12:40 PM

Real estate firm Walter & Samuels has scored a $50 million loan to refinance its NoMad office building.

Apple Savings provided the loan for 419 Park Avenue South, which replaces a previous $32 million mortgage and includes $18 million in new financing, according to documents filed with the city’s Department of Finance on Thursday. Variable Annuity Life Insurance Company provided the original mortgage.

“This a low loan-to-value loan with one of New York’s terrific banks,” said David Berley, chairman of Walter & Samuels TRData LogoTINY. “We do a lot of mortgage financing. It’s one of our specialties.”

The 20-story office building spans 160,114 square feet, and its tenants include design firm Keiser Associates, a 3-D printing company Shapeways and law firm Krass Snow & Schmutter. Walter & Samuels, which occupies the 15th floor, recently renovated and enlarged the building’s lobby.

The firm is currently marketing the eighth floor of the building, which has 6,083 square feet available. The asking price is $65 per square foot.

Walter & Samuels manages 50 buildings throughout the city. In April, Berley purchased a three-story office building at 516 Eighth Avenue in the Garment District for $25 million. In July 2015, SL Green paid Walter & Samuels $27.1 million for a mixed-use residential building at 260 East 72nd Street.


Related Articles

arrow_forward_ios
From left: 295 Fifth Avenue, 3 World Trade Center, 50 Rockefeller Plaza (Credit: Google Maps, Wikipedia)

These were NYC’s top office leases in October

Clockwise from left: 31 West 27th Street, 1271 Sixth Avenue, 781 Metropolitan Avenue (Credit: StreetEasy and Google Maps)

New Equinox tops list of NYC retail leases in October

John Loeb Jr. and 237 East 61st Street in Lenox Hill (Credit: Google Maps and Wikipedia)

These are some of the most notable resi sales of the week

Owners of NoMad Hotel failed to pay $100M to lenders and investors

Owners of NoMad Hotel failed to pay $100M to lenders and investors

Marriott to build the tallest modular hotel in the world in NoMad

Marriott to build the tallest modular hotel in the world in NoMad

Rockefeller Group lands $203M loan for NoMad assemblage

Rockefeller Group lands $203M loan for NoMad assemblage

Women-only meeting space provider Luminary to open first location in NoMad

Women-only meeting space provider Luminary to open first location in NoMad

Walter & Samuels lands $70M refi for Midtown office building

Walter & Samuels lands $70M refi for Midtown office building

arrow_forward_ios