SL Green gets $510M refi from Aareal, Citigroup, Credit Agricole, for News Building

SL Green Realty through the entity SLG 220 News Owner LLC as borrower signed a loan agreement with lender Aareal Capital Corp., Citigroup and Credit Agricole valued at $510 million for The News Building at 220 East 42nd Street in Murray Hill. The deal closed on June 18, 2020 and was recorded on June 25, 2020. The building is divided into commercial condos.

This loan refinanced $356 million in debt with Wells Fargo and added a $154 million gap loan.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on August 23, 2019.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link