Edward J. Minskoff Equities secured a loan modification for its 1166 Sixth Avenue building, a Midtown office tower, from Wells Fargo, totaling $235 million across three loans. The bank adjusted the loan terms, including extending maturity dates and modifying interest rates. This restructuring comes after the building’s main tenant, D.E. Shaw, vacated, leaving a large vacancy. The loan had entered special servicing earlier due to concerns over the building’s financial viability. Minskoff’s firm is now working with JLL to lease the building’s available space, promoting the property with ideas for an atrium and gallery.
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