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Fisher Brothers lands Refi at 605 Third Avenue

605 Third Avenue (Credit: Plaza Construction)

Fisher Brothers + JP Morgan Asset Management have secured a $400 million CMBS loan from Morgan Stanley to refinance their office tower at 605 Third Avenue in Midtown East, CO first reported. The fixed-rate debt carries a term of 10 years.

  • Dig Deeper: Fisher Brothers and its partners have made more than $100 million in upgrades to the 1.1 million-square-foot building since 2014. The largest tenants include the United Nations Population Fund (131,000 SF) and Broadridge Financial Solutions (85,000 SF). It is currently 97 percent leased.
  • Worth Noting: In late October, JPMorgan put its 49 percent stake in the 44-story office tower on the market, valuing the entire asset at about $600 million. [CO]

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