Namdar Realty Group And Empire Capital Holdings Refinance Midtown East Office Buildings For $172.4M

The asset involved in the transaction is two office buildings located at 529 5th Avenue and 587 5th Avenue in Midtown East, Manhattan. These properties encompass a total of 305,188 square feet and have undergone refinancing with a significant loan increase from the prior debt of $111.2 million to a new loan amount of $172.4 million.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $172,400,000
• Address: 529 5th Avenue & 587 5th Avenue
• Lender: Reznik Paz Nevo Trusts
• Landlord: Igal Namdar - Namdar Realty Group
• Landlord: Josh Rahmani - Empire Capital Holdings
• Prior Debt: $111,200,000

The refinancing deal included key stakeholders such as Mason Asset Management, which was part of the process, alongside Namdar Realty Group and Empire Capital Holdings as landlords. Igal Namdar and Josh Rahmani represent their respective companies in this transaction.