Walter & Samuels lands $70M refi for Midtown office building

Allegiant Capital is the lender

TRD New York /
May.May 24, 2018 06:00 PM

500 8th Avenue

Walter & Samuels refinanced its Midtown office building at 500 Eighth Avenue with a $70 million mortgage from Allegiant Capital Funding.

Allegiant took over an existing $60 million loan from Citibank and issued a $10 million gap mortgage as part of the deal, property records show.

David Berley’s Walter & Samuels bought the 12-story, 250,000-square-foot building in 1996 for an undisclosed amount, according to Commercial Observer. Tenants at the property, which sits two blocks from Penn Station, include New York Association of Realty Managers, New York International Beauty School and Xincon Technologies.

Last year, Allegiant refinanced Walter & Samuels’ 227-241 West 61st Street with a $60 million loan.


Related Articles

arrow_forward_ios

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

Joel Schreiber (Credit: Shir Stein and Wikipedia)

WeWork’s first investor used his stock as collateral. Now his lenders are suing him

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

163 North 6th Street and the Tel Aviv Stock Exchange Bull (Credit: Google Maps, Wikipedia)

Joel Gluck’s Israeli bond issuance falls through as Williamsburg rental project faces financing crunch

NYC’s foreign investment landscape in the era of trade wars and heightened nationalism

Larry Silverstein and the Tel Aviv Stock Exchange (Credit: Getty Images)

Institutional investors swarm Silverstein’s new TASE bonds

Real estate firms get (green) thumbs down as they jump into climate bonds

arrow_forward_ios