JEMB Realty Secures $275 Million Refinance Loan From Corebridge Financial For Herald Towers

The property involved in this transaction is Herald Towers, a mixed-use asset located at 50 West 34th Street in Manhattan's Penn Plaza. The property encompasses a total of 841,835 square feet with 690 residential units. The transaction details reveal that JEMB Realty refinanced the property with a loan amount of $275,000,000.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $275,000,000
• Address: 50 West 34th Street
• Market: Penn Plaza, Manhattan
• Asset Size: 841,835 SF
• Units: 690
• Lender: Kevin Hogan - Corebridge Financial
• Landlord: Joseph L. Jerome - JEMB Realty
• Loan Type: Refinance

Key individuals involved in the transaction include Kevin Hogan representing Corebridge Financial and Joseph L. Jerome representing JEMB Realty. The refinancing arrangement highlights the financial strategies employed by the respective parties with respect to the mixed-use property.