L&L Holding is a partner on the deal
JPMorgan and L&L Holding have secured a $600 million loan package from the Bank of China + Helaba + Deka Immobilien to refinance 200 Fifth Avenue and a small adjacent property at 23 West 23rd Street (8,175 SF), according to SPGlobal. Bank of China led the financing, which included a $200 million gap mortgage.
Worth Noting: The office property is located between West 23rd Street and West 24th Streets, and spans 800,000 square feet. Tenants include Grey Advertising and Tiffany & Company.
Flashback: L&L previously owned the NoMad building with now-defunct Lehman Brothers. However, JPMorgan acquired Lehman’s 90 percent stake in the property for around $630 million in 2011.