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

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 Articles

arrow_forward_ios
Steve Witkoff and Ian Schrager in front of the iconic PUBLIC hotel escalators. (PUBLIC, Getty)
EB-5 fund alleges Schrager, Witkoff siphoned money from Public Hotel
EB-5 fund alleges Schrager, Witkoff siphoned money from Public Hotel
Best Buy has closed about 20 of its big-box stores in each of the past two years (iStock)
Best Buy lays off 5,000 staffers, increases store closures
Best Buy lays off 5,000 staffers, increases store closures
Ryan Serhant and Gary Barnett on Development Slowdown in Pandemic
Coffee Talk: Extell’s Gary Barnett and Ryan Serhant
Coffee Talk: Extell’s Gary Barnett and Ryan Serhant
Cushman & Wakefield CEO Brett White
Cushman reports 10% drop in revenue in 2020
Cushman reports 10% drop in revenue in 2020
Central Queens Academy's Ashish Kapadia and United's Chris Jiashu Xu with a rendering of 88-08 Justice Avenue (Linkedin, iStock)
Charter school takes 85K sf in Queens condo building
Charter school takes 85K sf in Queens condo building
(IStock illustration by Kevin Rebong)
Smaller cities look to cash in on shift to remote work
Smaller cities look to cash in on shift to remote work
421-427 East 14th Street (Google Maps, iStock)
Stuy Town to get new 17K sf grocery store
Stuy Town to get new 17K sf grocery store
Photo illustration of Mayor Bill de Blasio as Uncle Sam (iStock, Getty/Illustration by Kevin Rebong)
NYC has $1.3B in unpaid property taxes
NYC has $1.3B in unpaid property taxes
arrow_forward_ios

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

Loading...