Edward Minskoff’s EJM Equities has secured a $200 million loan to refinance its 101 Sixth Avenue, according to a report in The Real Deal.
The 20 year fixed rate mortgage came mostly from Citibank with some of the funds provided by Barclays, The money will primarily be used to pay off a current $175 million debt owed to Bank of America.
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The 23 story office tower holds 425, 000 square feet of space. It offers a “green roof” on the Seventh floor and a redesigned urban plaza on Sixth Ave.
Its tenants include the New York Genome Center, hedge fund manager Two Sigma Investments and office space provider Regus and the building has a 97% occupancy.
The news comes just a few days after the $13 billion hedge fund Tudor Investment Corporation announced that it would lease the entire 11th floor of Minskoff’s 51 Astor Place for a total of 25, 000 square feet.
