Extell lands $417M loan for 570 Fifth Ave development

Gary Barnett secured another refinancing for his banner development at 570 Fifth Avenue  JPMorgan Chase provided Extell Development with $417 million to refinance the project, PincusCo reported. The development site comprises more than a dozen properties assembled by the New York City skyline shaper. The deal, which closed on March 20, replaces a $340 million loan issued less than two years ago. Neither the borrower nor the lender immediately responded to requests for comment from The Real Deal. Global law firm Simpson Thacher & Bartlett was reported last summer to be poised to take roughly 700,000 square feet to anchor […] This article originally appeared on The Real Deal. Click here to read the full story.