Moinian Lands $310M Refi for Manhattan Complex

The Moinian Group has obtained a $310 million refinancing loan for 535-545 Fifth Ave., two Manhattan office buildings totaling 515,917 square feet.

The new note replaces existing debt and provides long-term, stable financing for the asset. CBRE brokered the deal, while Iron Hound Management advised the company regarding transaction modifications.

Previous financing includes a $310 million CMBS loan originated by Morgan Stanley through Wilmington Trust, according to Yardi Matrix information. That note was set to mature in March last year.

In July, Wilmington Trust and LNR Partners foreclosed on the properties as The Moinian Group defaulted on the $310 million note, according to The Real Deal. The owner had several other issues with the property, including a lawsuit initiated against one of the tenants, NBA Media Ventures, in 2020 for failing to pay rent.

Located in Midtown Manhattan between East 44th and East 45th streets, the buildings are halfway between the Rockefeller Center and the Empire State Building. JFK International Airport is within 17 miles.

Both buildings underwent renovations in 2009, with Gensler serving as the architect. The 36-story facility at 535 Fifth Ave. was completed in 1927 and comprises more than 45,000 square feet of retail space. Floorplates range between 2,000 and 20,000 square feet.

The other property rises 14 stories. Built in 1897, the mid-rise has almost 33,000 square feet of retail space and is LEED Gold certified. Floorplates average 11,345 square feet.

CBRE Vice Chairman Drew Anderman, Broker Eddie Haber, Associate Vice President AJ Bruno and Senior Debt Analyst Jared Fried advised The Moinian Group. Iron Hound Management Principal Rob Verrone advised the company regarding transaction modifications.

Office loan originations see uptick

Office loan originations jumped 181 percent year-over-year in the third quarter of 2025, according to a Mortgage Bankers Association report. On a quarterly basis, originations rose 67 percent, highlighting a recovery that aligns with broader shifts in office real estate trends.

In one of the largest such deals of last year in Manhattan, Related Cos., GIC and affiliates of a Middle Eastern sovereign wealth fund obtained a $1.1 billion refinancing loan for the office component of Deutsche Bank Center. The property features two 55-story office towers spanning 1.1 million square feet, as well as a hotel, condominium complex and retail space.