The MetLife Building at 200 Park Avenue in Midtown East
Bank of America and Wells Fargo are refinancing Tishman Speyer’s MetLife building for $1.4 billion.
The deal could value the iconic 58-story Midtown East tower at 200 Park Avenue at roughly $3 billion, making it one of Manhattan’s most expensive office buildings, according to Bloomberg. The refinancing will pay down a $1.72 billion mortgage that Tishman Speyer took out in 2005, according to the website.
Bank of America and Wells Fargo plan to divide the 10-year debt into bonds that they will sell to investors, a Tishman Speyer spokesperson told the website.