FINANCEDOffice
SL Green And Mori Trust Complete $2 Billion Refinancing Of 245 Park Avenue In Manhattan
245 Park Avenue
$2,000,000,000
$1,111/SF
Building Size
1,800,000 SF
Asset Type
Office
Closing
Oct 19, 2026
About this deal
AI
The asset involved in this transaction is an office property located at 245 Park Avenue in Manhattan. The property encompasses 1,800,000 square feet and has undergone a significant refinancing process, securing a loan amount of $2,000,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $2,000,000,000
- Loan Amount: $2,000,000,000
- Loan Type: Refinance
- Market: Manhattan
- Lender: J.P. Morgan Chase, Bank of America, Deutsche Bank, Bank of Montreal, Goldman Sachs, Societe Generale
- Landlord: Harrison Sitomer and Marc Holliday - SL Green; Mori Trust Co.
The refinancing deal was executed by SL Green Realty and its joint venture partner, Mori Trust Co., replacing $1.768 billion in existing debt with a new five-year, fixed-rate loan set at 6.52%.
On the Map
$2,000,000,000
$1,111/SF
Office
View full map
Players
Societe GeneraleLender
Bank of AmericaLender
Goldman SachsLender
Deutsche BankLender
Bank of Montreal (BMO)Lender
J.P. Morgan ChaseLender
MC
Mori Trust CoLandlord
New York 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
0.01%
Cash-on-Cash
-0.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93