Real Estate
Seagram Building In New York City Is Being Refinanced In $1.2 Billion Bond Deal
The Seagram Building on Park Avenue.
Photographer: Jeenah Moon/BloombergThis article is for subscribers only.
Aby Rosen and Michael Fuchs, co-founders of real estate investment firm RFR Holding, are close to finalizing a $1.2 billion commercial mortgage backed security that would help refinance debt tied to the Seagram Building, a 38-story tower on Park Avenue in Midtown Manhattan.
The CMBS is being pitched to investors in seven distinct portions, or tranches, with the highest rated AAA by Kroll Bond Rating Agency and Fitch Ratings. Pricing is expected to be finalized next week, according to people familiar with the transaction.