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Fisher Brothers, Alaska Permanent Fund Secure $500M Refi for 299 Park Ave.
Fisher Brothers and Alaska Permanent Fund Corporation completed a $500-million refinancing of 299 Park Ave. provided by Citi Group and JPMorgan. The 1.17-million-square-foot Class-A office tower in Midtown Manhattan is currently 95% leased to tenants including Capital One, King Street Capital and UBS.
“Securing attractive financing in this market reflects Fisher Brothers’ longstanding reputation for meticulously maintaining and operating Class A office assets,” said Ken Fisher, partner at Fisher Brothers. “Manhattan’s renowned Park Avenue corridor has been at the forefront of the office market rebound, with upgraded assets like 299 Park Ave. leading the charge.”
The Newmark Debt & Structured Financing team, including Jordan Roeschlaub, Jonathan Firestone and Nick Scribiani, brokered the deal. It follows strong 2024 leasing activity across the Fisher Brothers portfolio, including 299 Park. In 2023, the locally based owner-operator secured the largest leasing transaction in its history with the 765,000-square-foot relocation of law firm Paul, Weiss, Rifkind, Wharton & Garrison to 1345 Ave. of the Americas.
- ◦Financing
