Blackstone Refinances 670K SF Office At 425 Park Ave With $911.4M Loan

425 Park Avenue, located in the Plaza District, has recently undergone a loan refinance transaction. The office building, spanning 670,000 square feet, was involved in this deal.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $911,400,000
• Date: 12/20/2021
• Lender: blackstone''>Blackstone Real Estate Debt Strategies
• Landlord: L&L Holding Company - Robert Lapidus & Susan Choi Raffo
• Brokers: Michael Tepedino & Michael Gigliotti - JLL Capital Markets

The loan refinance was facilitated by Blackstone Real Estate Debt Strategies. L&L Holding Company, represented by Robert Lapidus and Susan Choi Raffo, is the current landlord of 425 Park Avenue. The brokers involved in the transaction were Michael Tepedino and Michael Gigliotti from JLL Capital Markets.