Meridian Nails Down $200M in Financing for NYC Tower

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.

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.