Kaufman, Travelers Cos. land $65M refinancing for 747 Third

417K sf building underwent a $17M renovation in 2012
February 06, 2017 08:01AM

The William Kaufman Organization and an arm of Travelers Companies landed $65 million in refinancing for the 417,240-square-foot office tower at 747 Third Avenue.

The joint venture secured a $65 million leasehold mortgage, the Wall Street Journal reported.

The Singer & Bassuk Organization represented the owners.

The tower, built in 1972, covers the entire block of Third Avenue between East 46th and East 47th streets.

Kaufman pumped $17.3 million into renovating the building in 2012, and signed tenants such as Regus and four others to approximately 53,422 square feet.

Jonathan Iger, grandson of the late Robert Kaufman, took over as CEO of the family company in June. [WSJ] Rich Bockmann