Tishman Speyer has completed a $385 million refinancing of 300 Park Avenue, a 25-story Class A office tower located in Midtown, Manhattan. The financing package includes a $330 million CMBS loan arranged by JPMorgan Chase, with Deutsche Bank Securities and Morgan Stanley participating as co-lenders. An additional $55 million in mezzanine financing was secured from Macquarie Capital Principal Finance. The refinancing proceeds will retire the building’s existing loan.
Originally completed in 1955 and designed by Emery Roth & Sons, 300 Park Avenue offers 770,000 square feet of office space between East 49th and 50th Streets. The building is fully leased, with major tenants including Colgate-Palmolive, Ally Bank, and GoldenTree Asset Management. Since 2021, Tishman Speyer has executed 440,000 square feet in new leases, renewals, and expansions. A lobby renovation was completed in 2021, and the property holds LEED Gold certification.
300 Park Avenue offers direct access to Grand Central Terminal, and is served by several subway lines, including the 4, 5, 6, and 7 trains.
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I was gonna say that this sure looks like a mid-50’s building, and ‘low and Behold’!.. 😀
So ugly and hope it gets torn down one day for a taller replacement
Is this building across the Avenue from The Waldorf Astoria Hotel?