Moinian just landed a loan on its Park Avenue South building

The company landed a $55.3M loan

New York /
Aug.August 17, 2018 05:15 PM

450-460 Park Avenue South

Moinian Group has secured a $55.3 million loan for 450-460 Park Avenue South.

North American Company for Life and Health Insurance provided the loan on Murray Hill property, according to city records. The deal included $8.4 million in new debt.

Representatives for Moinian and North American did not immediately respond to requests for comment.

WeWork signed a lease in July to take roughly 50,000 square feet across six floors of the 12-story building. Other tenants include co-working space provider Work Better and tech company ShopKeep.

Joseph Moinian bought the property in 1982 and has described it as his first “serious office building.”


Related Articles

arrow_forward_ios
General Assembly's CEO Lisa Lewin (General Assembly)
General Assembly renews 40K sf lease in Flatiron District
General Assembly renews 40K sf lease in Flatiron District
Doctors and medical professionals have remained on time with their rent payments in the past year (iStock)
Medical offices are just what the doctor ordered for landlords
Medical offices are just what the doctor ordered for landlords
A rendering of 85 Jay Street and RXR Realty CEO Scott Rechler (Winick, Getty)
RXR makes $220M apartment bet in Brooklyn
RXR makes $220M apartment bet in Brooklyn
Thor Equities Group Chairman Joseph J. Sitt. (Thor)
Thor facing foreclosure on Harlem rental building
Thor facing foreclosure on Harlem rental building
Photo illustration of Vornado CEO Steven Roth and Hotel Pennsylvania at 401 Seventh Avenue (Getty, iStock, Vornado)
“Inevitable”: Vornado will demolish Hotel Pennsylvania
“Inevitable”: Vornado will demolish Hotel Pennsylvania
The rate of loans sent to special servicers continued to fall in March. (Unsplash)
CMBS special servicing rate declines in March
CMBS special servicing rate declines in March
JLL CEO Christian Ulbrich. (Getty)
JLL explores sale of China property management wing
JLL explores sale of China property management wing
Dollar General CEO Todd Vasos (Retail Industry Leaders Association, iStock)
Dollar General thrives amid retail apocalypse
Dollar General thrives amid retail apocalypse
arrow_forward_ios

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

Loading...