The Moinian Group said Wednesday it had closed a $310-million refinancing for 535–545 Fifth Ave., a 512,171-square-foot office property located in Midtown Manhattan. According to published reports, Deutsche Bank and Société Générale provided the refi.
The new loan replaces existing debt on the property and provides long-term, stable financing for the asset. The transaction was completed amid a challenging capital markets environment, the Moinian Group said.
“This refinancing underscores the value of prime Fifth Avenue assets and our disciplined approach to asset management,” said Joseph Moinian, founder & CEO of The Moinian Group. “We are pleased to secure attractive financing that positions the property for continued long-term success.”
Situated between East 44th and East 45th streets, 535–545 Fifth benefits from immediate access to Grand Central Terminal and is surrounded by world-class transportation, retail, and dining amenities. The building serves a diverse tenant base and remains a key component of The Moinian Group’s Manhattan office portfolio.
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