JP Morgan Chase has originated a $450 million loan to refinance 452 Fifth Avenue, an 865,000-square-foot tower on Bryant Park owned by an arm of Israel-based IDB Group. The building has had several recent capital improvements.
According to global commercial property research firm Real Capital Analytics, the loan is for a ten-year term and was arranged by advisory firm Ackman-Ziff. It’s expected to be securitized through a single asset deal.
See this and other refinancings using Real Capital’s Property Trade Search.