Global Holdings secures $382.4 million refinancing for 120 Park Ave.

Manhattan, NY Global Holdings secured refinancing of 120 Park Ave., its 620,000 s/f office tower located near Grand Central Terminal on Park Ave. in Midtown. The $382.4 million loan was co-originated by Wells Fargo and LBBW and includes $360.5 million in initial proceeds, replacing the property’s existing $335 million financing.

This follows strong leasing momentum at 120 Park Ave. Bloomberg L.P., which occupies approximately 80% of the building’s rentable area — nearly 500,000 s/f across 20 floors — signed a long-term renewal at the end of 2025, extending its tenancy through February 2040.

Global Holdings is advancing improvements at 120 Park Ave., which include a lobby renovation, POPs space improvements, and elevator modernization. The firm also recently completed window upgrades on the fifth and sixth floors, including a new fifth-floor loggia, creating a distinctive, double-height, indoor-outdoor workplace experience. The refinancing proves continued lender confidence in well-capitalized, institutionally owned office assets with strong tenant commitments and highly connected locations.

Located across from Grand Central Terminal, 120 Park Ave. occupies a position along one of Midtowns most established corporate corridors. The 620,000 s/f tower offers immediate access to regional and citywide transit and is home to a roster of leading companies, anchored by Bloomberg’s longstanding presence.