search

The Real Deal Logo

Trending

Lawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421a“Investing before the ‘all clear’ sign”: Jon Gray on Blackstone’s $10B apartment deal“Investing before the ‘all clear’ sign”: Jon Gray on Blackstone’s $10B apartment dealH-E-B snags 21 acres in Celina, hinting at development boomH-E-B snags 21 acres in Celina, hinting at development boomVictor Sigoura picks up site of failed West Chelsea condo for $87MVictor Sigoura picks up site of failed West Chelsea condo for $87M
Commercial
New York

Feil lands $180M refi for GE Building

Package includes $65M gap mortgage from MetLife

Jeffrey Feil and 570 Lexington Avenue
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.

Sign Up for the undefined Newsletter

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.

Tags
Commercial Real EstateFeil Organization