{"id":1004086351,"date":"2013-11-06T07:22:27","date_gmt":"2013-11-06T15:22:27","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004086351"},"modified":"2022-12-08T12:30:46","modified_gmt":"2022-12-08T20:30:46","slug":"silverstein-loeb-get-85m-in-financing-for-manhattans-529-fifth-ave","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/silverstein-loeb-get-85m-in-financing-for-manhattans-529-fifth-ave\/","title":{"rendered":"Silverstein, Loeb Get $85M in Financing for Manhattan&#8217;s 529 Fifth Ave."},"content":{"rendered":"<p><i>By Keith Loria, Contributing Editor<\/i><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/11\/5th-Ave.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004086352\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/silverstein-loeb-get-85m-in-financing-for-manhattans-529-fifth-ave\/5th-ave\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/11\/5th-Ave.jpg\" data-orig-size=\"427,640\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"5th Ave\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/11\/5th-Ave.jpg?w=427\" class=\"alignleft size-medium wp-image-1004086352\" alt=\"5th Ave\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/11\/5th-Ave.jpg\" width=\"200\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/11\/5th-Ave.jpg 427w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/11\/5th-Ave.jpg?resize=200,300 200w\" sizes=\"auto, (max-width: 200px) 100vw, 200px\" \/><\/a>Silverstein Properties, Inc. and Loeb Partners Realty, L.L.C. have received a seven-year, $85 million loan from Wells Fargo for 529 Fifth Avenue in New York.<\/p>\n<p>Cushman &amp; Wakefield served as the exclusive advisor to affiliates of Silverstein and Loeb Partners for the financing.<\/p>\n<p>A modern, 20-story Class A office building with floors ranging from approximately 6,800 to 18,000 rentable square feet, 529 Fifth Ave. occupies the southeast corner of Fifth Avenue and 44th Street.<\/p>\n<p>The building contains 282,696 square feet of rentable area, including 18 floors of office space, with retail on the ground, mezzanine and basement floors. It was designed with five setbacks creating five separate classes of floor plates, enabling the property to accommodate a myriad of tenants\u2019 space requirements.<\/p>\n<p>Major tenants include the International Federation of Accountants, Citrin Cooperman &amp; Co., EZE Castle Integration, Inc. and Rosy Blue.<\/p>\n<p>The building is close to both Bryant Park and Times Square and is also just two blocks from Grand Central Station.<\/p>\n<p>According to Alex Hernandez, Cushman &amp; Wakefield\u2019s managing director, 529 Fifth Ave. has strong in-place cash flow with great upside potential.<\/p>\n<p>Steve Kohn, Dave Karson, Hernandez and Sridhar Vankayala of Cushman &amp; Wakefield\u2019s Equity, Debt and Structured Finance team represented the ownership.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Silverstein Properties and Loeb Partners Realty have received a seven-year, $85 million loan from Wells Fargo for 529 Fifth Ave. in New York City.<\/p>\n","protected":false},"author":952,"featured_media":1004086352,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,11,1600,21742,10,21747],"tags":[],"class_list":["post-1004086351","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-midatlantic","category-new-york","category-latest","category-northeast","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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