Vanbarton Group Secures $352 Million Refinance Loan From Goldman Sachs For Midtown Office Asset
425 Lexington Avenue
$352,000,000
$469/SF
Building Size
750,000 SF
Asset Type
Office
Closing
Jun 22, 2026
About this deal
AI
The asset involved in this transaction is an office property located at 425 Lexington Avenue in Midtown Manhattan, encompassing a total square footage of 750,000. The refinancing secured is valued at $352,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $352,000,000
- Loan Type: Refinance
- Lender: Goldman Sachs
- Landlord: Vanbarton Group
- Brokers: Christopher Peck, Drew Isaacson, Christopher Pratt & Jennifer Zelko - JLL
The refinancing was arranged by JLL on behalf of Vanbarton Group, LLC, enabling them to secure a floating rate, single-asset single-borrower (SASB) financing through Goldman Sachs, with funding managed by BlackRock.
On the Map
$352,000,000
$469/SF
Office
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Players
Market Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93