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New York & Tri-State  + Midtown New York  + Apartments  |  June 17, 2024
Emily Fu
By: Emily Fu

JP Morgan Secures $165M Refi for Midtown Rental Tower 

J.P. Morgan Investment Management has secured $165 million to refinance 776 Avenue of the Americas, also known as The Capitol, a 39-story multifamily building in Midtown. Northwestern Mutual Life Insurance provided the loan, adding to the existing $118 million senior loan from PGIM Real Estate and a $46.9 million gap mortgage. 

The Capitol, spanning 387 units, has been a significant investment for J.P. Morgan Investment Management since its acquisition in 2012 with a $130 million loan from HSBC Bank. Boasting 454,538 square feet, the building offers amenities including a 24-hour concierge, fitness center, rooftop lounge, dog wash, movie theater, and valet services. 

Read More News Stories About: PGIM
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About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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