292 Madison Ave

Vanbarton Group defaulted on an $87.5 million loan from Deutsche Bank for their 26-story office building at 292 Madison Avenue, Midtown Manhattan. Vanbarton purchased the building for $180 million in 2016 and renovated it in 2018. With the loan maturing last month, the firm failed to repay, and Deutsche Bank has now listed the non-performing loan for sale. The building, which serves as Vanbarton’s headquarters, is about 70 percent occupied.