Bank of America, Wells Fargo to refinance MetLife building for $1.4B

The MetLife Building at 200 Park Avenue

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.

At $3.4 billion, the General Motors Building is currently the highest valued office building in Manhattan. [Bloomberg]Claire Moses

 

 

 

 

http://ift.tt/1E0IXUf

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s