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Jack Resnick and Ruben score $200M-plus loan for Midtown building
Term loan is for 10 years and was arranged by Singer & Bassuk organization
MetLife Investment Management has loaned Jack Resnick & Sons and the Ruben Companies $205 million for their office building at 110 East 59th Street.
Singer & Bassuk Organization arranged the 10-year term loan, which closed on April 2, according to the Commercial Observer.
Jack Resnick & Sons is headquartered at the building and is doing a major $25 million renovation of it. The firm constructed the building in 1968, and it stands 37 stories tall and spans 612,000 square feet.
The building is 98 percent leased, with tenants including Cantor Fitzgerald, Cantor Commercial Real Estate, Estee Lauder and the New York Public Library. [CO] – Eddie Small