{"id":51308,"date":"2026-07-24T12:51:33","date_gmt":"2026-07-24T09:51:33","guid":{"rendered":"https:\/\/www.commercialcafe.com\/blog\/?p=51308"},"modified":"2026-07-26T18:26:37","modified_gmt":"2026-07-26T15:26:37","slug":"vanbarton-gets-refi-for-425-lexington-avenue-office-tower","status":"publish","type":"post","link":"https:\/\/www.commercialcafe.com\/blog\/vanbarton-gets-refi-for-425-lexington-avenue-office-tower\/","title":{"rendered":"Vanbarton Gets Refinance for 425 Lexington Ave. Office Tower"},"content":{"rendered":"

JLL\u2019s Capital Markets group recently announced a refinancing arrangement on behalf of Vanbarton Group, LLC \u2014 a $352 million floating rate, single-asset, single-borrower (SASB) refinancing through Goldman Sachs for the office property at 425 Lexington Ave.<\/p>\n

The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Directors Christopher Peck and Drew Isaacson, as well as Directors Christopher Pratt and Jennifer Zelko.<\/p>\n

Underscoring the strength of the New York City office market, this deal is also a reminder that well-located office assets rated class A and above are not struggling. Rising 31 stories in the Plaza District skyline, the property incorporates more than 686,000 square feet of class A+, rentable Manhattan office space<\/a> that\u2019s certified LEED Gold.<\/p>\n

The top-tier office tower is home to the global headquarters location for long-time anchor tenant Simpson Thacher and is 99% leased. Institutionally managed, the property recently underwent renovation work totaling nearly $35 million. The star attraction among the property updates is the LX Club \u2014 a 16,700-square-foot, state-of-the-art amenity center that includes multiple tenant lounges; a sauna and a yoga studio; a wellness center with Technogym equipment; a 45-person conference facility; and a golf simulator.<\/p>\n

Occupying a full city block on Lexington Avenue between 43rd<\/sup>\u00a0and 44th<\/sup>\u00a0streets, the office tower is located directly across the street from Manhattan\u2019s Grand Central Terminal and is situated in the city\u2019s top-performing submarket \u2014 the chosen location for some of the most prominent multinational corporate tenants, such as Blackstone, JP Morgan, Citadel, and MetLife. Additionally, the Grand Central\/Plaza District office submarket is home to an abundance of top-tier, Class A office space and reportedly boasts a vacancy rate below 2%.<\/p>\n

\u201cAs we move into the second half of 2026, New York City\u2019s office market shows exceptional strength with high-quality space increasingly scarce,\u201d Peck said. \u201cPremium office towers like 425 Lexington continue to attract robust financing interest from lenders driven by the building\u2019s consistently strong occupancy rates, prime location opposite the city\u2019s most heavily trafficked transit hub and recent upgrades that include highly desirable tenant amenities.\u201d<\/p>\n

\"Midtown<\/a>

Midtown Manhattan office space at 425 Lexington Avenue.<\/em><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

This deal is a reminder that well-located, class A and above office assets are not struggling, as well as the strength of the New York City office market itself.<\/p>\n","protected":false},"author":48,"featured_media":51310,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[37,4014,39],"tags":[],"class_list":["post-51308","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-featured","category-office","wpautop"],"acf":[],"yoast_head":"\nJLL Arranges Refi for Vanbarton's 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