Signature Bank provided the debt
Himmel + Meringoff Properties has secured $60 million from Signature Bank to refinance the office portion of 729 Seventh Avenue, according to CO. The recently renovated property sits between West 48th and 49th Streets.
Loan Details: With a fixed rate of 4.25 percent, the 12-year balance-sheet loan carries interest-only payments for the first years of the term.
Worth Noting: The refinance included the income from the property’s valuable signage. With more than 164,000 square feet of office space, tenants include Columbia University, The Actors Fund, and Playbill. (CO)