The Real Deal New York

Brooks Brothers locks down $109M to refi Madison Avenue flagship

Morgan Stanley is the lender on the 11-story building
By Miriam Hall | August 02, 2017 02:00PM

346 Madison Avenue and Brooks Brothers’ Chairman and CEO Claudio Del Vecchio (Credit: Brooks Brothers)

Brooks Brothers secured $109 million in refinancing for its New York flagship property at 346 Madison Avenue, according to property records filed with the city Tuesday.

Morgan Stanley is the lender on the property at East 44th Street, the documents show. The financing includes $25 million in new money and consolidates the remainder of a $100 million loan that was issued in 2007.

Built in 1915, the 11-story, 122,600-square-foot property is owned and occupied by one of the country’s oldest clothing retailers. It has been Brooks Brothers’ flagship location in the city for more than 100 years.

Other Brooks Brothers locations in the city include 1180 Madison Avenue and 1270 Sixth Avenue.

Last month, Morgan Stanley provided a $850 million refinancing to Walton Street Capital and RXR Realty for their Midtown office building at 237 Park Avenue.

Representatives for Morgan Stanley and Brooks Brothers could not be immediately reached for comment.