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George Comfort & Sons refinances 200 Madison Ave with $386M loan
The five-year floating-rate financing from New York Life includes a three-year initial term and two 12-month extension options.
George Comfort & Sons, with partners Loeb Partners Realty and Jamestown, has completed a $386 million refinancing for 200 Madison Ave., a 750,000-square-foot office tower in the Grand Central area of New York.
ConnectCRE reports that New York Life provided the five-year floating rate loan, which is structured with a three-year initial term plus two 12-month extension options.
The refinancing proceeds will be used to repay the building’s existing debt and fund ongoing leasing, the outlet said.
ConnectCRE also noted the refinancing follows an August agreement with Havas Health for a 15-year extension and headquarters expansion, which increased the firm’s footprint to 254,118 square feet, and that other tenants include Spectorgroup and BraunHagey & Borden.