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L&L, JPMorgan secure $600 million refi for 200 Fifth Avenue
The Bank of China loan includes a $200 million gap mortgage
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.