{"id":1004127942,"date":"2015-09-22T08:39:14","date_gmt":"2015-09-22T16:39:14","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=361661"},"modified":"2022-03-04T01:47:34","modified_gmt":"2022-03-04T09:47:34","slug":"hff-secures-110-million-for-midtowns-lingerie-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hff-secures-110-million-for-midtowns-lingerie-building\/","title":{"rendered":"HFF Secures $110 Million for Midtown\u2019s Lingerie Building"},"content":{"rendered":"<p><em>By Alex Girda, Associate Editor<\/em><\/p>\n<p>Hot on the heels of the New York Fashion Week, <a href=\"https:\/\/www.hfflp.com\/\" rel=\"nofollow\">HFF<\/a> announced it has secured financing for a Manhattan office tower formerly known as \u201cThe Lingerie Building.\u201d The company\u2019s debt placement team, working on behalf of an institutional investor, was led by Senior Managing Director Michael Tepedino and Managing Director Michael Gigliotti.<\/p>\n<div id=\"attachment_361670\" class=\"wp-caption alignright\" style=\"width: 310px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/09\/180-Madison-Ave..jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-361670\" title=\"180 Madison Ave.\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/09\/180-Madison-Ave..jpg\" alt=\"180 Madison Ave.\" width=\"300\" height=\"174\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">180 Madison Ave.<\/p>\n<\/div>\n<p>HFF secured $110 million first mortgage financing with help from <a href=\"https:\/\/www.chase.com\/\" rel=\"nofollow\">J.P. Morgan Chase Bank, N.A<\/a>. and <a href=\"https:\/\/www.helaba.de\/en\" rel=\"nofollow\">Landesbank Hessen-Thuringen Girozentrale<\/a>. The office tower located at 180 Madison Ave. in Manhattan offers a total of 280,953 square feet of space. Almost 90 years of age, the property is set to exit an extensive renovation process that aims to fully reposition the process as an upscale office asset. The Lingerie Building now has a new lobby, elevators, windows, and received electrical upgrades.<\/p>\n<p>According to a press statement announcing the financing measure, the building currently operates at 28 percent vacancy. The 23-story property\u2019s largest current tenants are The Rubicon Project and Unified Social.  The owners have been able to improve space due to recent rollover at the property and the asset now caters to a wider range of tenants, with special interest being visible from the tech sector. This is in large part due to an increased tech sector presence in the Midtown South submarket.<\/p>\n<p>Image courtesy of <em>Google Streetview<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Financing company HFF recently arranged a sizable loan for an under-renovation Midtown South asset.<\/p>\n","protected":false},"author":41,"featured_media":1004505855,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1600,21742],"tags":[682],"class_list":["post-1004127942","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-new-york","category-latest","tag-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>HFF Secures $110 Million for Midtown\u2019s Lingerie Building - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/hff-secures-110-million-for-midtowns-lingerie-building\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HFF Secures $110 Million for Midtown\u2019s Lingerie Building\" \/>\n<meta property=\"og:description\" content=\"Financing company HFF recently arranged a sizable loan for an under-renovation Midtown South asset.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/hff-secures-110-million-for-midtowns-lingerie-building\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-09-22T16:39:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-04T09:47:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/180-Madison-Ave..jpg?w=1024\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Alex Girda\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hff-secures-110-million-for-midtowns-lingerie-building\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hff-secures-110-million-for-midtowns-lingerie-building\\\/\"},\"author\":{\"name\":\"Alex Girda\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/540f0253de89dedaae7684239611b81c\"},\"headline\":\"HFF Secures $110 Million for Midtown\u2019s Lingerie Building\",\"datePublished\":\"2015-09-22T16:39:14+00:00\",\"dateModified\":\"2022-03-04T09:47:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hff-secures-110-million-for-midtowns-lingerie-building\\\/\"},\"wordCount\":232,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hff-secures-110-million-for-midtowns-lingerie-building\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/180-Madison-Ave..jpg\",\"keywords\":[\"News\"],\"articleSection\":[\"New York\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hff-secures-110-million-for-midtowns-lingerie-building\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hff-secures-110-million-for-midtowns-lingerie-building\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hff-secures-110-million-for-midtowns-lingerie-building\\\/\",\"name\":\"HFF Secures $110 Million for Midtown\u2019s Lingerie Building - 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