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
Weekend Recap: The Battle for Unique Inventory
Salvation or false hope? Article XI lures landlords
Inside rising townhouse prices across New York
City
NYC’s top deals: Bowery Grand Hotel sells for $8M
Two years later, Brandon Miller fallout ripples through real
estate
NY Dirt: Three takeaways from the Pacific Park MOU
Rabsky co-founders Simon Dushinsky and Isaac Rabinowitz
split. Sort of.
We Buy Houses Salisbury, NC: Top 5 Companies
We Buy Houses Muskogee, OK: Top 5 Companies
We Buy Houses Owasso: Top 5 Companies
