Real Estate
Citadel-Leased Manhattan Skyscraper Lands $911 Million Financing
- Owners of 425 Park Ave. secure a new loan as leasing fills up
- Sumitomo Mitsui Trust Bank was the lead lender on the debt
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A new skyscraper on Manhattan’s Park Avenue, where Ken Griffin’s Citadel is an anchor tenant, has secured a $911 million refinancing.
Sumitomo Mitsui Trust Bank is the lead lender on the five-year, floating-rate loan for 425 Park Ave., according to a statement Thursday. The proceeds will be used to pay off a loan of the same size from 2021, which helped fund construction and leasing.