AIG Provides $45 Million Refinance Loan for Gould Investors' Gramercy Office Building
AIG has provided a $45 million refinance loan for Gould Investors' 288,402 SF office building located at 45 Irving Place in Gramercy.
AIG has provided a 45 million refinance loan for Gould Investors' 288,402 SF office building located at 45 Irving Place in Gramercy. The property is fully leased to multiple tenants and features modern amenities, including a fitness center and rooftop terrace. Gould Investors acquired the property in 2015 for 110 million and has since completed significant renovations.
The loan was arranged by brokers from JLL, who noted that the property’s prime location and strong tenant roster made it an attractive investment opportunity. The building is situated in the heart of Gramercy, a highly desirable neighborhood known for its historic architecture and upscale residential and commercial offerings. The property is also conveniently located near several major transportation hubs, including Grand Central Terminal and Penn Station.
Gould Investors has a strong track record of successful real estate investments, with a portfolio that includes properties in New York City and other major markets across the country. The company specializes in value-add opportunities, acquiring properties with significant upside potential and implementing strategic renovations and leasing initiatives to maximize returns.
AIG’s loan will provide Gould Investors with additional capital to continue investing in the property and further enhance its value. The refinance loan also reflects AIG’s confidence in the strength of the New York City commercial real estate market, which has shown resilience in the face of the COVID-19 pandemic and continues to attract strong investor interest.
Overall, the refinance loan for 45 Irving Place is a testament to the strength of the Gramercy office market and the value of strategic real estate investments. With its prime location, modern amenities, and strong tenant roster, the property is well-positioned for long-term success and continued value appreciation.