Wildenstein scores $90M to refi UES townhouse

JPMorgan Chase is the lender on the five-story building at 740 Madison

New York /
Apr.April 21, 2017 06:32 PM

Wildenstein & Company locked down $90 million to refinance its Upper East Side townhouse thats leased out to luxury brand Bottega Veneta, according to property records filed with the city Friday.

JPMorgan Chase is the lender on the five-story building at 740 Madison Avenue. The financing consolidates a new $55 million mortgage and $35 million in existing debt on the 37,429-square-foot property, records show.

In 2014, Bottega Veneta signed a lease to take a 24,000-square-foot store created out of three landmarked townhouses at 740 Madison Avenue, 23 and 25 East 64th Street. The rent was estimated to be $8 million at the time.

The parcels at 23 and 25 East 64th Street, as well as 740 Madison Avenue, are owned by the same entity, 740 Madison SPE LLC. The loan is backed by the corner property only.

The townhouse is on the same block as 19 East 64th Street, which David Wildenstein sold for a record $79.5 million to an affiliate of HNA Holdings, the company behind the $2.2 billion deal to buy 245 Park Avenue. The company is reportedly planning to turn the former home into a boutique corporate office.

Representatives for JPMorgan Chase and Wildenstein & Co were not immediately available for comment.

Chava Gourarie contributed to reporting.

(To see more financing deals, check out our Deal Sheet)


Related Articles

arrow_forward_ios
1 North Moore (Google Maps, StreetEasy)
Tribeca penthouse rents for $85K per month, possibly setting NYC record
Tribeca penthouse rents for $85K per month, possibly setting NYC record
Hudson Yards (Getty, iStock)
City’s bet on Hudson Yards beginning to pay off
City’s bet on Hudson Yards beginning to pay off
VTS CEO Nick Romito and Lane Technologies CEO Clinton Robinson 
VTS to buy office-app developer for $200M
VTS to buy office-app developer for $200M
From left: Marisa Lago, Anita Laremont and Mayor Bill de Blasio (LinkedIn, Getty, Wikimedia)
Politics, City Planning on collision course
Politics, City Planning on collision course
Brookfield kicks off review process for $2B Stonestown Galleria mall redevelopment
Brookfield kicks off review process for $2B Stonestown Galleria mall redevelopment
Brookfield kicks off review process for $2B Stonestown Galleria mall redevelopment
Hudson’s Bay Company restructures $846M CMBS loan
Hudson’s Bay Company restructures $846M CMBS loan
Hudson’s Bay Company restructures $846M CMBS loan
Two of the eleven properties under threat of foreclosure (Google Maps)
Mack Real Estate may “strip” club owner of properties
Mack Real Estate may “strip” club owner of properties
270 W Montauk Hwy, Hampton Bays, NY (Loopnet)
Legendary Hampton Bays bar up for sale
Legendary Hampton Bays bar up for sale
arrow_forward_ios

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

Loading...