High-rise commercial buildings

Sub Markets

Property Sectors

Topics

New York & Tri-State CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New York & Tri-State  + Downtown New York  + Finance  | 

RFR Refinances 17 State St. Office Tower

RFR announced the refinancing and recapitalization of several key assets in New York, including a trophy office property at 17 State St. in the Financial District, and high street retail assets at 670 Ave. of the Americas in Chelsea and 150 E. 72nd St. on Manhattan’s Upper East Side. The transactions closed at the end of 2024, building on the significant success stories for the firm last year despite a challenging market.

17 State St. was refinanced with a three-year loan extension for the 42-story, 571,000-square-foot trophy office tower in Lower Manhattan that RFR has owned for 25 years. Terms of the refi were not disclosed.

“RFR’s commitment to holding our prized properties has never wavered, and we’re pleased to round out our successful 2024 by announcing the first of several deals that affirm our ownership of high-profile office and retail assets in New York,” said Aby Rosen, co-founder and principal of RFR.

Connect

Inside The Story

RFR

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing