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Solow May Be Seeking to Finance 9 W. 57th, Commercial Mortgage Alert Says
2011-12-12 10:06:18

Solow’s debt -- a $400 million interest-only loan on the building and another $100 million on the land beneath it -- matures in February, the newsletter reported, without saying where it got its information. Lenders have been approached by brokers seeking 10-year fixed-rate debt on the property, according to Commercial Mortgage Alert.

It’s not clear whether the brokers are working on Solow’s behalf or independently, the newsletter said.

The 50-story, 1.6 million-square-foot (149,000-square- meter) tower commands some of Manhattan’s highest rents, particularly for higher floors that have unobstructed views of the park. Tenants include the private-equity firm KKR & Co. (KKR), Och-Ziff Capital Management Group LLC (OZM), and luxury-goods maker Chanel SA, according to the newsletter.

A telephone message left with a receptionist at Solow Building Co., Solow’s firm, wasn’t immediately returned.

To contact the reporter on this story: David M. Levitt in New York at dlevitt@bloomberg.net

To contact the editor responsible for this story: Kara Wetzel at kwetzel@bloomberg.net

http://www.bloomberg.com/news/2011-12-09/solow-may-be-seeking-to-finance-9-w-57th-commercial-mortgage-alert-says.html





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