December 29, 2010
By Allison Landa, News Editor
Courtesy Flickr Creative Commons user adactio
After being lost by high-profile real estate investor Harry Macklowe in a foreclosure auction, 1330 Avenue of the Americas is being refinanced by its new owner. The 40-story Class A Manhattan office tower is located between 53rd and 54th streets and comprises 540,000 square feet.
Commercial real estate finance and advisory firm Meridian Capital Group L.L.C. has arranged a $200 million acquisition loan from a New York bank on behalf of RXR Realty Trust.
The building was purchased by Otera Capital in 2009 at the minimum bid of $100,000. When Macklowe bought it in 2007, he paid nearly $500 million. RXR, which has a presence in Manhattan as well as the New York Tri-State area, entered into contract to buy the building in late November at the price of $400 million.
Tenants include Pearson PLC and Harry Winston. The building was built in 1965 and designed by Emory Roth & Sons Architects. A new façade, entry, lobby and elevator cabs were built in 2007.
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