Holliday Fenoglio Fowler (HFF) has arranged a $115 million refinancing for 980 Madison Ave., a six-story, 130,478 s/f mixed-use property on the Upper East Side.
Working exclusively on behalf of RFR Holding Corp, HFF placed the adjustable-rate loan with RBC Capital Markets. The loan is refinancing a maturing loan and providing funds for a strategic leasing and business plan.
The HFF team representing RFR Holding Corp. was led by senior managing director Michael Tepedino and director Michael Gigliotti.
980 Madison Ave. occupies a full block between 76th and 77th Sts. near the Carlyle, Mark and Surrey Hotels and the Metropolitan Museum of Art. The property was built in 1949 as the headquarters for Parke-Bernet, an auction firm that was acquired by Sotheby's in 1964. Today, the property features gallery space, office suites and prime Madison Ave. retail storefronts and is home to the "world renowned" Gagosian Gallery.
RFR Holding Corp. was founded in the early 1990s and has grown into a leading force in the domestic and international real estate markets. Anchored in N.Y.C., RFR controls a portfolio of office, residential, retail and hotel properties in select markets in the U.S. and Europe.
HFF and HFF Securities LP (HFFS) are owned by HFF, Inc. HFF operates out of 19 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.
HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services, structured finance, private equity, loan sales, and commercial loan servicing. www.hfflp.com. Tags: