The Real Deal New York

Feil lands $180M refi for GE Building

Package includes $65M gap mortgage from MetLife
By Will Parker | February 15, 2018 01:10PM

Jeffrey Feil and 570 Lexington Avenue

The Feil Organization refinanced its debt on 570 Lexington Avenue, the landmarked office tower better known as the GE Building, records filed with the city Thursday show.

The $180 million deal with lender MetLife replaces previous debt from Northwestern Mutual Life Insurance. The sum includes a new $65 million gap mortgage, according to records filed with the city’s Department of Finance Thursday.

Feil’s Jay Anderson did not immediately respond to request for comment.

The 50-story Art Deco skyscraper was built in 1931 and was originally known as the RCA Victor Building. The Feil Organization acquired it from the Mendik Company more than a decade ago.

The building serves as the headquarters of The Real Estate Board of New York.

Feil recently signed Danny Meyer’s Union Square Hospitality Group to a 15,00-square-foot lease at 853 Broadway, The Real Deal reported on Tuesday.