Signature Bank has issued a $60 million loan to Himmel + Meringoff Properties for a refinancing of 729 Seventh Avenue.
The 12-year loan has a 4.25 percent fixed rate, and the financing was arranged by Meridian Capital Group, according to the Commercial Observer. The money will be for the office section of the building.
The mixed-use building between West 48th and 49th streets stands 17 stories tall and has more than 164,000 square feet of office space, with tenants including Columbia University, Playbill and the Actors Fund. MdeAS Architects recently renovated the lobby to give it a new expanded entryway and accents of glass, marble and steel.
In September, Signature Bank loaned Meringoff Properties $85 million for its office building at 401 Park Avenue South. [CO] – Eddie Small