The Real Deal New York

Rockwood Capital lands $260M refi for Midtown East tower

MetLife is the lender for the new loan at Two Grand Central
By Christian Bautista | February 26, 2018 12:20PM

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.