George Comfort & Sons Refinances 200 Madison for $386M
George Comfort & Sons, and its partners Loeb Partners Realty and Jamestown, completed a $386-million refinancing of 200 Madison Ave., a 750,000-square-foot Grand Central district office tower. New York Life provided the five-year floating rate loan, structured with a three-year initial term and two 12-month extension options. Proceeds will be used to pay off 200 Madison’s existing debt and fund ongoing leasing.
The refi follows an August agreement with Havas Health for a 15-year extension and headquarters expansion, which grew the global firm’s footprint to 254,118 square feet. “This refinancing underscores the lending community’s confidence in office assets like 200 Madison Ave. that are defined by top-tier amenities, unrivaled location and strong sponsorship,” said George Comfort & Sons president and CEO Peter S. Duncan.
Jonathan Estreich, Peter A. Duncan and Egor Petrov of Estreich & Company and Adam Spies, Adam Doneger and Willis Robbins of Newmark assisted in arranging the transaction.
