Manhattan, NY The Moinian Group has closed a $310 million refinancing for 535–545 Fifth Ave., an office property located in Midtown.
“This refinancing underscores the value of prime Fifth Ave. assets and our disciplined approach to asset management,” said Joseph Moinian, founder and CEO of The Moinian Group. “We are pleased to secure attractive financing that positions the property for continued long-term success.”
The new loan replaces existing debt on the property and provides long-term, stable financing for the asset. The refinancing reflects lender confidence in The Moinian Group’s ownership, leasing strategy, and the strength of well-located, high-quality office buildings in N.Y.C.
Situated between East 44th and East 45th Sts., 535–545 Fifth Ave. benefits from access to Grand Central Terminal and is surrounded by transportation, retail, and dining amenities. The building serves a diverse tenant base and remains a key component of The Moinian Group’s Manhattan office portfolio.
The transaction was completed amid a challenging capital markets environment, highlighting both the quality of the asset and The Moinian Group’s relationships within the lending community.