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
Napa Valley hot-air-balloon business lists for $12M
Napa Valley hot-air-balloon business lists for $12M
Napa Valley hot-air-balloon business lists for $12M
A photo illustration of the proposed Lower Platte River Corridor (Getty, Plan Preserve Play NE)
Nebraska lawmakers mull digging $1B recreation lake
Nebraska lawmakers mull digging $1B recreation lake
Illustration of Stefan Soloviev (HaydenSoloviev, CC BY-SA 4.0, via Wikimedia Commons, Getty)
Soloviev bets long-dormant Midtown East site in casino sweepstakes
Soloviev bets long-dormant Midtown East site in casino sweepstakes
CHIP's Jay Martin and HCR Commissioner RuthAnne Visnauskas (Getty)
Lies, damn lies, and statistics: Did rent-stabilized vacancies really fall?
Lies, damn lies, and statistics: Did rent-stabilized vacancies really fall?
PulteGroup's Ryan R. Marshall and RedFin's Glenn Kelman (PulteGroup, RedFin, Getty)
Wall Street is bidding up housing stocks again
Wall Street is bidding up housing stocks again
Empire Capital Holdings' Josh Rahmani, Hakimian Capital's Michael Hakimian, RXR's Scott Rechler and 1330 6th Avenue (Getty, Hakimian Capital, Empire Capital Holdings, 1330aofa.com)
Empire Capital, partners close on $320M deal for 1330 Sixth Ave
Empire Capital, partners close on $320M deal for 1330 Sixth Ave
(Illustration by The Real Deal with Getty)
Retail real estate continues climb, reaches record low availability
Retail real estate continues climb, reaches record low availability
1 Wythe Avenue in Greenpoint, Brooklyn and Brooklyn Brewery CEO Eric Ottaway (Google Maps, Twitter/@EricOttaway)
Brooklyn Brewery to expand in move to Greenpoint
Brooklyn Brewery to expand in move to Greenpoint
arrow_forward_ios

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

Loading...