Kasowitz Represents Axonic Capital in $72 Million Senior Loan to Refinance Office Tower in Midtown Manhattan

Kasowitz represented Axonic Capital, an alternative investment management firm specializing in structured credit and commercial and residential real estate debt and equity, in the closing of a $72 million senior loan to refinance the leasehold interest in 430 Park Avenue.  The loan refinances the existing leasehold mortgage and will also fund future building repositioning and tenant improvement costs.  The 19-story building between East 55th and 56th Streets is a 295,900 square foot Class-A office property that is currently 99% leased to a diverse tenant roster spanning financial services, real estate, and law firms.

The Kasowitz team representing Axonic Capital was led by real estate transactions partners Darwin Huang and David Szeker and includes associates Kathleen M. Maurer, Jason Re, and Christina M. Sim, and staff attorney Ranya Khalil.

Select news coverage:

• Law360: Axonic Lends $72M To Refi JV's Midtown NYC Office Tower (subscription required)
• citybiz: Axonic Capital Closes $72 Million Refinance Loan for 430 Park Avenue
• Institutional Real Estate: Axonic Capital Closes $72m Senior Loan to Refinance 430 Park Avenue in Midtown Manhattan