CBRE Advises The Moinian Group in Two Loan Transactions for Manhattan Assets Totaling $510 Million

CBRE today announced it advised The Moinian Group (TMG), one of the largest privately held real estate companies, in securing $510 million in financing for two of its New York City properties. TMG secured a $200 million loan for 17 Battery Park South, a 430,000 sq. ft. property located in the heart of downtown Manhattan, which will fund the continued conversion of the mixed-use building to include additional residential floors. The prominent owner also received $310 million in refinancing for the office property at 535-545 Fifth Avenue.

The CBRE team of Drew Anderman, vice chairman in the Debt and Structured Finance Group, along with Eddie Haber, AJ Bruno and Jared Fried advised TMG in the transactions. In addition, Rob Verrone of Iron Hound Management advised TMG regarding modifications to the 535 545 Fifth Avenue transaction.

“We are proud to continue our relationship with TMG, and these new financings represents another step forward in the success of 535-545 Fifth and the transformation of 17 Battery Park South and its adjacent buildings into luxury residential homes in the city,” said Anderman.

Situated at the southern tip of Manhattan, 17 Battery Park South boasts unobstructed views of the Statue of Liberty and Ellis Island. Served by several subway lines, PATH trains and ferries, this convenient location also offers numerous dining, shopping, hospitality options.

Occupying a full block front on Fifth Avenue, 535-545 Fifth Avenue is known for its striking pre-war architecture and unmatched location. The iconic property is home to many of the nation’s most prominent corporations, financial institutions, law firms and service organizations.