Moinian Group Modifies AIG Loan For NoMad Office Building For $147.5M

The property asset involved in this transaction is situated at 245 Fifth Avenue in the NoMad neighborhood of Manhattan. It encompasses 258,639 square feet of office space and has been appraised with a city-designated market value of $111.5 million, generating annual revenue of $21.5 million.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $147,460,167
• Lender: AIG - Jacob Baron
• Landlord: Moinian Group - Joseph Moinian

This transaction reflects a modification of a prior $160 million loan provided by AIG in 2016 for the same office building, which has now been adjusted to a new value of $147.5 million. Joseph Moinian represents Moinian Group in this deal.