452 Fifth Avenue|Financing|06/22/2012
- Event Financing
- Address 452 Fifth Avenue
- Square feet 865,000
- Borough Manhattan
- Neighborhood Garment District
- Publication Date 08/01/2012
- Deal Date 06/22/2012
- Party 1 PBC Real Estate
- Party 1 Brokerage Ackman-Ziff Real Estate Group
- Party 1 Broker Shawn Rosenthal
- Party 2 JPMorgan Chase
notes
A $400 million loan was provided to refinance the building. The refinancing consists of a $300 million senior loan and $100 million in mezzanine debt. The long-term, non-recourse loan is interest only for five years with a blended interest rate of 5.04 percent. office building.