Rockwood Capital lands $260M refi for Midtown East tower

MetLife is the lender for the new loan at Two Grand Central

New York /
Feb.February 26, 2018 12:20 PM

Tyson Skillings and 2 Grand Central Tower (Credit Rockwood Capital and Macklowe Properties)

Rockwood Capital TRData LogoTINY landed a $260 million loan for Two Grand Central in Midtown.

MetLife is the lender for the new mortgage, according to Department of Finance records that hit Monday. The firm assumed the existing $200 million loan on the property from JPMorgan Chase and provided a $60 million gap mortgage.

The 44-story property, at 140 East 45th Street, is home to tenants such as wealth management firm BBR Partners, healthcare investor Cortec Group and financial firm Banorte Securities. Rockwood’s New York City offices are also located at the tower’s 34th floor.

Rockwood and its partners recently secured a $217 million loan for its Empire Resorts office and retail development at the Brooklyn waterfront. Multifamily investor Isaac Kassirer recently went into contract for Rockwood and Thor Equities’ 838 West End Avenue for about $65 million. The firm has figured in large hotel deals over the past few years. Last January, it sold the Club Quarters Hotel at 52 William Street to Sam Chang’s McSam Group for $92 million. It also sold the 293-key Hilton Homewood Suites, at 312 West 37th Street, to Qatar’s Alduwaliya Asset Management for $167 million in 2016.

Rockwood bought Two Grand Central for $401 million in 2011. The 667,000-square-foot building was previously owned by a joint venture led by Boston Properties and Goldman Sachs.

Rockwood did not immediately return a request for comment.


Related Articles

arrow_forward_ios
With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)
Real estate stocks push up this week as U.S.-China trade tensions ease
Real estate stocks push up this week as U.S.-China trade tensions ease
416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)
Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Real estate powers Blackstone’s best quarter ever
Real estate powers Blackstone’s best quarter ever
Real estate powers Blackstone’s best quarter ever
Terreno Realty CEO W. Blake Baird and an aerial of the property (Google Maps)
Terreno Realty pays $44M for NJ industrial site
Terreno Realty pays $44M for NJ industrial site
Madison Realty Capital Co-Founders Josh Zegen and Brian Shatz with a rendering of the River North development (Madison Realty Capital, FXCollaborative)
Madison Realty’s altered plans for SI complex approved
Madison Realty’s altered plans for SI complex approved
Pandemic forces mom-and-pop landlord to sell out
Pandemic forces mom-and-pop landlord to sell out
Pandemic forces mom-and-pop landlord to sell out
PBC's Eli Elefant and 452 Fifth Ave (PBC)
Elefant’s PBC to liquidate $2B in US real estate, including HSBC building
Elefant’s PBC to liquidate $2B in US real estate, including HSBC building
Chinese developer willing to sell Manhattan supertall site at big loss
Chinese developer willing to sell Manhattan supertall site at big loss
Chinese developer willing to sell Manhattan supertall site at big loss
arrow_forward_ios

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

Loading...