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Real Estate Week in Review for August 19, 2023 therealdeal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from therealdeal.com Daily Mail and Mail on Sunday newspapers.
SL Green Takes Over Ben Ashkenazy's 625 Madison Avenue therealdeal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from therealdeal.com Daily Mail and Mail on Sunday newspapers.
Fitch Downgrades SL Green's Credit Rating therealdeal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from therealdeal.com Daily Mail and Mail on Sunday newspapers.
Scenes from the ribbon cutting at One Vanderbilt in September (Credit: Jakob Kahlin) Goldman Sachs and Wells Fargo are leading a massive refinancing of One Vanderbilt that will allow developer SL Green Realty and its partners to cash out hundreds of millions of dollars from the newly completed Midtown skyscraper. The banks are heading a consortium of lenders putting together a debt package for the 58-story, Grand Central-area tower to the tune of roughly $2.25 billion, sources familiar with the financing told The Real Deal. It’s set to be one of the largest single-building commercial real estate loans in New York history. And it will provide a major windfall for the Marc Holliday-led real estate investment trust and its partners at a time when equity investors are still skittish about Manhattan office properties while cheap debt fueled by low interest rates is in abundant supply. ....