Stawski Partners lands $200M to refi Midtown office tower

German firm Landesbank is the lender

New York /
Aug.August 20, 2018 05:30 PM

Axel Stawski and 505 Fifth Avenue (Credit: Getty Images, Google Maps, KPF)

Stawski Partners landed a $200 million loan for 505 Fifth Avenue in Midtown.

The new financing replaces $150 million in debt from German bank Landesbank Hessen-Thüringen, also known as Helaba, according to property records. The new mortgage, also from Landesbank, consolidates the previous loan and adds $50 million in new financing.

The property is a 251,000-square-foot office tower near the northeast end of Bryant Park. Stawski completed construction on the property in 2004, property records show. In 2015, Norwegian firm Norges Bank expanded its New York City headquarters in the property, signing a 22,000-square-foot expansion. Other tenants in the building include venture capital firm Corigin Holdings and wealth management firm Hightower Sports and Entertainment. The retail space is occupied by women’s clothing retailer COS.

Stawski Partners, headed by Axel Stawski, owns several properties on Fifth Avenue, including 565 and 579 Fifth Avenue. Its other office assets include 121 Avenue of the Americas and the Broad Financial Center. It also owns residential buildings 132 Perry Street, 27 Wooster Street and 42 Wooster Street.

The firm did not immediately respond to requests for comment.


Related Articles

arrow_forward_ios
Deconstruct Podcast
Deconstructing the single-family rental: New podcast episode out now
Deconstructing the single-family rental: New podcast episode out now
Birch Group President Mark Meisner and 101 Hudson Street in Jersey City, NJ (The Birch Group, Google Maps)
Birch Group paying $380M for large Jersey City office
Birch Group paying $380M for large Jersey City office
Main-MainImage_.psd FT-Thumbnail_.psd
Blackstone to net $4B profit in sale of Vegas casino
Blackstone to net $4B profit in sale of Vegas casino
Oxford lands $1.4B CMBS financing for $2.2B KKR industrial portfolio purchase
Oxford lands $1.4B CMBS financing for $2.2B KKR industrial portfolio purchase
Oxford lands $1.4B CMBS financing for $2.2B KKR industrial portfolio purchase
290 Motor Parkway, the office of Flexible Business Systems (Getty, Google Maps)
Long Island IT company wants to build ice rink for employees
Long Island IT company wants to build ice rink for employees
NJ construction official accused of siphoning funds from developers’ account
NJ construction official accused of siphoning funds from developers’ account
NJ construction official accused of siphoning funds from developers’ account
NYC City Council passes bill forcing hotels to dish out severance pay
NYC City Council passes bill forcing hotels to dish out severance pay
NYC City Council passes bill forcing hotels to dish out severance pay
Vorea, Domain and L+M close on $88M LIC development site
Vorea, Domain and L+M close on $88M LIC development site
Vorea, Domain and L+M close on $88M LIC development site
arrow_forward_ios

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

Loading...