The Real Deal New York

L&L, JPMorgan secure $600 million refi for 200 Fifth Avenue

The Bank of China loan includes a $200 million gap mortgage
By David Jeans | November 30, 2018 01:37PM

200 Fifth Avenue and L&L Holdings CEO David Levinson(Credit: L&L Holding Company)

A partnership between L&L Holding and JP Morgan has secured a $600 million loan for 200 Fifth Avenue.

The 800,000-square-foot former International Toy Center, was refinanced with a debt package provided by Bank of China which includes a $200 million gap mortgage, according to property records filed this week.

L&L Holding previously owned the building with Lehman Brothers. But JPMorgan bought the now-shuttered financial firm’s 90 percent stake in the building in 2011 for $700 million.

Tenants at the building, that stands opposite the Flatiron building, include Tiffany & Co. and Eataly.

L&L Holding did not respond to a request for comment before deadline.