Aby Rosen’s RFR refinances two 45th Street buildings for $200M

Developer has been renewing loans across its portfolio for the last couple of years

TRD New York /
Sep.September 19, 2018 12:00 PM

Aby Rosen and 350 Madison Avenue (Credit: Getty Images, Merchants Hospitality, and RFR Realty)

Aby Rosen’s RFR Realty refinanced two Midtown buildings with a $200 million loan package.

The New York State Teachers’ Retirement System will provide a $25 million gap mortgage on top of an existing $175 million in debt, backed by both 350 Madison Avenue and 10 East 45th Street, records filed with the city Wednesday show.

RFR bought 350 Madison Avenue, a 25-story office property, for $262 million in 2013. The deal also included the adjacent retail property at 10 East 45th Street. The company has refinanced a number of its holdings over the last 16 months, including 90 Fifth Avenue and 285 Madison Avenue.

There was one refinancing Rosen wasn’t able to get, however. Brookfield Properties and Waterman Interests took over RFR’s ground lease at Lever House in July after Rosen’s firm failed to secure the debt it needed to keep the property.

Newmark Knight Frank’s Dustin Stolly and Jordan Roeschlaub arranged the 350 Madison financing.

Related Article


Embattled Prodigy Network CEO Rodrigo Niño to step down

The Watchtower building at 25 Columbia Heights, CIM Group’s Shaul Kuba (right) and LIVWRK’s Asher Abehsera (Credit: Wikipedia, CIM Group, and LinkedIn)

JPMorgan leads $335M refi for CIM and LIVWRK’s Watchtower renovation

Multifamily market still reigns in Queens, Blackstone balks after rent reforms and more of the biggest CRE trends right now

Real estate titans … and their toys

Developer seeks $40M for Opportunity Zone site in downtown Newark

This East End icon might finally be closing in on a sale

Mack-Cali sells Paramus office property, Murphy enacts land bank reforms & more North Jersey real estate news

Power restored after blackout envelops West Side of Manhattan