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Vanbarton Group’s 425 Lexington Ave. Refinanced for $352M
JLL’s Capital Markets arranged a $352-million refinancing for 425 Lexington Ave., a 31-story, 750,000-square-foot Class A office tower in Midtown Manhattan. Senior managing directors Christopher Peck and Drew Isaacson and directors Christopher Pratt and Jennifer Zelko worked on behalf of Vanbarton Group, LLC, to secure the floating rate, single-asset single-borrower refinancing through Goldman Sachs, which was pre-placed entirely with funds and accounts managed by BlackRock.
“As we move into the second half of 2026, New York City’s office market shows exceptional strength, with high-quality space increasingly scarce,” said Peck. “Premium office towers like 425 Lexington continue to attract robust financing interest from lenders driven by the building’s consistently strong occupancy rates, prime location opposite the city’s most heavily trafficked transit hub, and recent upgrades that include highly desirable tenant amenities.”
Located directly across from Grand Central Terminal, 425 Lexington serves as the global headquarters location for longtime anchor Simpson Thacher. The property is 99% leased and has undergone nearly $35 million in recent upgrades.
- ◦Financing
