Jan
09
Manhattan Office Asset Lands $105M Refi
ByThe property’s tenants include International Flavors & Fragrances, CBS Broadcasting, Labcorp and the Multiple Sclerosis Research Center of New York.
521-533 W 57th St.New York City—Meridian Capital Group has arranged a 12-year refinance loan provided by a local savings bank for an office condominium that occupies the first six floors of the 10-story building at 521-533 W 57th St. in Manhattan’s Midtown West neighborhood. The property is fully occupied and serves as the corporate headquarters of the International Flavors & Fragrances. Other tenants include CBS Broadcasting, Labcorp and the Multiple Sclerosis Research Center of New York.
The $105 million loan features a fixed rate of 3.75 percent and five years of interest-only payments. Meridian’s team consisting of Managing Director Allan Lieberman, Managing Director Steven Adler and Vice President Jeffrey Berkes negotiated the transaction on behalf of 521-533 West 57th Street Associates, an entity associated with Himmel + Meringoff Properties…
