Samson lands $109M refi for Fifth Avenue office building

New York Community Bank also provided $15M in new debt

TRD New York /
Apr.April 29, 2019 01:00 PM
110 Fifth Avenue (Credit: Google Maps)

110 Fifth Avenue (Credit: Google Maps)

Samson Management and Rabina Properties secured $109 million from New York Community Bank to refinance their 19th-century office building in the Flatiron District.

The financing for 110 Fifth Avenue includes about $14.7 million in new debt, according to public records filed Monday with the New York City Department of Finance. The deal replaces a $100 million debt package from the lender, which had been provided in 2014.

Rego Park-based Samson, Scarsdale-based Rabina and New York Community Bank, known for its multifamily lending, did not immediately respond to requests for comment.

The 176,000-square-foot, 11-story office complex, known as the Judge Building, sits on the corner of 16th Street and dates to 1888. Samson and Rabina acquired the property in 1996 from the New York Times Company.

Last year, Samson sued Town Residential to recoup $438,299 in unpaid rent for its 16,600-square-foot office at the property, after Town shut down its leasing and resale business. The case is ongoing.

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