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October 05, 2018  

BayernLB Takes Slice of NY Loan

A second German lender has taken a piece of the $200 million mortgage on a Midtown Manhattan office building.Helaba Bank originated the 10-year loan, backed by the 275,000-square-foot building at 505 Fifth Avenue, about three months ago. Within the past couple of weeks, Bayerische Landesbank signed on for around $40 million of the debt.The property, at the northeast corner of East 42nd Street, is estimated to be worth north of $450 million,...

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