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**Resnick Offices in Tribeca Secure $147M Refinance**
Avison Young has successfully arranged a $147 million first mortgage refinancing for 255 Greenwich Street, a premier Class A office building located in New York City’s Tribeca neighborhood. The 600,000+-square-foot property includes ground-floor retail and parking facilities. The refinancing was secured on behalf of an affiliate of Jack Resnick & Sons.
The 10-year, fixed-rate CMBS loan was jointly arranged with Morgan Stanley as the lead lender and Societe Generale as co-lender. The proceeds were used to refinance an existing loan originally provided by MetLife.
The transaction was led by Scott Singer and Andy Singer, principals and co-leads at Avison Young, along with executive director Kevin Swartz and senior director Jeffrey Moroch, all part of the firm’s Tri-State Debt and Equity Finance group. Notably, the same team, operating as The Singer & Bassuk Organization, had arranged the original financing with MetLife a decade ago.
“We are extraordinarily proud to be representing Jack Resnick & Sons and to be working with Jon and his executive team as they continue to build on the legacy of excellence established by his grandfather Jack and father Burt,” said Scott Singer. “Morgan Stanley as lead and Soc Gen as co-lender provided a smooth execution for this important Avison Young client.”
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