Manhattan skyline stock photograph; not a photograph of 245 Park Avenue. Photo: Todd Quackenbush / Unsplash. Lenders are still willing to write very large checks in Manhattan. They just want the right building. SL Green Realty announced on October 19 that it closed a $2 billion refinancing of 245 Park Avenue, the 1.8 million square foot office tower in Midtown. The building is 100% leased. The five-year, fixed-rate loan carries a 6.52% interest rate, priced at 1.47 percentage points over…
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SL Green Just Borrowed $2 Billion at 6.52%. Manhattan’s Best Towers Can Still Get Paid.
SL Green refinanced fully leased 245 Park Avenue with a $2 billion loan at 6.52%. Tenant quality and income still shape Manhattan lending.
