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Milstein Tower Repositioning Garners $749M Refi
AKS Capital Partners arranged a $749-million refinancing from Brookfield for Milstein Properties to support the redevelopment of 335 Madison Ave., which Milstein is repositioning as The Company Building, an innovation hub.
The debt will be used to enhance the ongoing redevelopment projects throughout the 1.1 million-square-foot, Class A office building, to bolster leasing efforts and to refinance the existing loan.
AKS Capital Partners’ founder, Aaron Appel, together with co-founding partners, Jonathan Schwartz, Keith Kurland, Adam Schwartz and Michael Diaz—all formerly of JLL—arranged the transaction for Milstein Properties with Brookfield.
“With its unparalleled amenities package, positioning as New York City’s first vertical innovation campus and irreplaceable Grand Central Station location, Milstein Properties is once again delivering the city of New York a uniquely desirable asset represented by the Company Building at 335 Madison Ave.,” said Appel. “Its combination of extraordinary features drove significant interest from the lending community.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
