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
15 West 47th Street, 48 West 48th Street and 151 West 46th Street (Google Maps, Getty)
Here’s what tenants are paying at ELO’s Diamond District properties
Here’s what tenants are paying at ELO’s Diamond District properties
Century 21 president Marc Benitez (LinkedIn; iStock)
Return of the retailer: Century 21 relaunches
Return of the retailer: Century 21 relaunches
Steve Witkoff and Ian Schrager in front of the iconic PUBLIC hotel escalators. (PUBLIC, Getty)
EB-5 fund alleges Schrager, Witkoff siphoned money from Public Hotel
EB-5 fund alleges Schrager, Witkoff siphoned money from Public Hotel
Best Buy has closed about 20 of its big-box stores in each of the past two years (iStock)
Best Buy lays off 5,000 staffers, increases store closures
Best Buy lays off 5,000 staffers, increases store closures
Ryan Serhant and Gary Barnett on Development Slowdown in Pandemic
Coffee Talk: Extell’s Gary Barnett and Ryan Serhant
Coffee Talk: Extell’s Gary Barnett and Ryan Serhant
Cushman & Wakefield CEO Brett White
Cushman reports 10% drop in revenue in 2020
Cushman reports 10% drop in revenue in 2020
Central Queens Academy's Ashish Kapadia and United's Chris Jiashu Xu with a rendering of 88-08 Justice Avenue (Linkedin, iStock)
Charter school takes 85K sf in Queens condo building
Charter school takes 85K sf in Queens condo building
(IStock illustration by Kevin Rebong)
Smaller cities look to cash in on shift to remote work
Smaller cities look to cash in on shift to remote work
arrow_forward_ios

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

Loading...