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Minskoff refis $110M loan at 1166 Sixth Avenue
Financing from Barclays replaces Lehman Brothers loan
Edward Minskoff snagged a $110 million loan from Barclays Bank to refinance a portion of the 44-office story tower at 1166 Sixth Avenue.
The financing replaces a $110 million loan that Minskoff Equities secured in 2006 from Lehman Brothers, property records show. The financing is for five office condos on the second through sixth floors of the building.
In addition to Minskoff [TRDataCustom], RXR Realty and financial advisory firm Marsh & McLennan own major stakes in the 1.6 million-square-foot building.
The office tower, located north of Bryant Park between West 45th and 46th streets, is in the midst of a multimillion-dollar renovation. The redesigned lobby will feature artworks including Roy Lichtenstein’s “Modern Tapestry” and “Amerind Landscape.” Minskoff is an avid art collector.
In November, fintech firm Arcesium inked a deal to lease 39,000 square feet at the 1166 Sixth, where asking rents run from the high $70s to mid-$80s per square foot. Global investment firm D.E. Shaw Group renewed its lease for 195,000 square feet in April.