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452 5th Avenue & 1 West 39th Street
FINANCED

PBC USA Real Estate Secures $359.6M Refinance Loan For Grand Central Offices

452 5th Avenue & 1 West 39th Street

Office
1,478,884 SF
clock iconFinanced 50 days ago
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Summary

Loan
NEW YORK
Office
1,478,884 sqft

The office properties located at 452 5th Avenue and 1 West 39th Street in Grand Central, Manhattan, were involved in a refinancing loan transaction. The loan amount for this deal was $359,600,000, and the lender for this transaction was Reznik Paz Nevo Trusts, represented by Hillel Lazarus. The landlords of these two properties are Eliyahu Elefant and Baruch Itzhak of PBC USA Real Estate.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $359,600,000
  • Square Footage: 739,442
  • Address: 452 5th Avenue & 1 West 39th Street
  • Market: Grand Central, Manhattan
  • Loan Type: Refinance
  • Lender: Reznik Paz Nevo Trusts - Hillel Lazarus
  • Landlord: Eliyahu Elefant & Baruch Itzhak - PBC USA Real Estate

The refinancing loan worth $359.6 million for the two office properties was secured by PBC USA Real Estate, with representation from 452 Fifth Owners LLC. This significant transaction involved key individuals such as the lenders Reznik Paz Nevo Trusts, represented by Hillel Lazarus, and the landlords, Eliyahu Elefant and Baruch Itzhak of PBC USA Real Estate, showcasing a strategic financial decision in the real estate market of Grand Central, Manhattan.

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Reznik Paz Nevo Trusts's profile picture
Reznik Paz Nevo Trusts
Reznik Paz Nevo Trusts

Details

Deal Summary
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FINANCED
IMAGE: Eliyahu Elefant DATE: 05/28/2024 ADDRESS: 452 5th Avenue & 1 West 39th Street MARKET: Grand Central, Manhattan ASSET TYPE: Office ~ SF: 739,442 LENDER: Reznik Paz Nevo Trusts - Hillel Lazarus LANDLORD: Eliyahu Elefant & Baruch Itzhak - PBC USA Real Estate LOAN AMOUNT: $359,600,000 LOAN TYPE: Refinance NOTE: PBC USA Real Estate, represented by 452 Fifth Owners LLC, secured a refinancing loan worth $359.6 million for two prominent office properties in Grand Central, Manhattan, including the buildings at 452 5th Avenue and 1 West 39th Street.

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Address452 5th Avenue & 1 West 39th Street

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