Empire Management Secures $12.5M Refinance Loan From Amalgamated Bank For Midtown South Office Building

The property asset involved in this transaction is an office building located at 341 5th Avenue in Midtown South, Manhattan. The asset spans a total of 107,095 square feet and underwent a refinancing process with a loan amount of $12,500,000 from Amalgamated Bank.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $12,500,000
• Address: 341 5th Avenue
• Market: Midtown South, Manhattan
• Landlord: Fred Ohebshalom - Empire Management
• Lender: Amalgamated Bank
• Prior Debt: $8,000,000 from JPMorgan Chase

This refinancing deal was executed by Empire Management through Regency Enterprises, replacing existing debt obligations. The transaction signifies a strategic financial move by the landlord, Fred Ohebshalom, in managing the office asset at the specified location.