Olayan Group nabs $800M loan for 550 Madison
The Olayan Group locked in an $800 million loan for its revamped Midtown office building, better known as the Sony building. ING Capital added $230 million of new debt to the existing $570 million loan balance on 550 Madison Avenue, according to property records. ING issued the original loan in 2016, when Olayan purchased the 41-story, 800,000-square-foot Midtown building between East 55th and East 56th streets for $1.4 billion. The refinance comes nine months after Global financial services firm Aquarian Holdings signed a lease for 75,000 square feet, boosting occupancy to about 96 percent. Olayan recently renovated the building, hiring […]
This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts
ICYMI: Diving into NY’s top 100 real estate players
Pied-à-terre tax proposal rankles real estate
What NYC can learn from other cities with pied-a-terre
taxes
The Daily Dirt: After all that? Building workers reach
tentative contract agreement
Cities Invest In 3D Printing Homes To Solve Housing
Challenges
Investors Are Rushing to New Jersey Despite High Taxes and
Cost of Living—What’s Going On?
The Markets Where Renters Have the Most Power—And What
Investors Can Do About It
LISTEN: Has spring sprung in New York’s housing market? An
expert weighs in
Nussbaum Lowinger files for Chapter 11 bankruptcy
TRD PolicyPro: Brace for the Tenant Power Act
