Citi Real Estate Funding Provides $60 Million Refinance Loan For Office Property In Manhattan

The property involved in this transaction is an office building located at 136 Madison Avenue in Manhattan, comprising 307,798 square feet. The refinance loan amount is $60 million, representing 37.1% of its appraised value of $161.9 million.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $60,000,000
• Loan Type: Refinance
• Lender: Citi Real Estate Funding
• Landlord: Michael T. Cohen, Andrew H. Roos & Robert B. Getreu - Williams Equities
• Loan Rate: 5.59%
• Appraised Value: $161.9 million
• Spread over Treasurys: 176 basis points

The deal involved key individuals including Michael T. Cohen, Andrew H. Roos, and Robert B. Getreu, who represent Williams Equities as landlords in the transaction. Citi Real Estate Funding provided financial backing for this refinance. The structure of the loan includes a five-year interest-only period.