The Stahl Organization has finalized a $750 million refinancing deal for its office tower at 277 Park Avenue, Manhattan. Deutsche Bank provided the new loan, but the process was costly for Stahl, involving a $250 million equity infusion to secure the financing. This refinancing follows $120 million in renovations to the building, totaling $370 million in recent expenditures. The new loan comes with a significantly higher interest rate, around 7%, compared to the previous mortgage’s 3.6% rate. The property, which spans 1.8 million square feet and is 97% leased, includes major tenants such as JPMorgan and Visa.
The Stahl Organization
