The loan for the 40-story building was provided by Wells Fargo, a representative of Sage Realty Corporation, the leasing arm of William Kaufman, approved. The loan retires $145 million in debt from Bank of America.
In 2017, Bank of America gave the building a new $40.5 million mortgage, mixed with $105 million in existing debt owned by Apple Bank.
The building, situated in East 49th and East 50th streets, is home to investment firm Cambridge Associates, reinsurer Munich American Reassurance Company, Citizens Bank, and the nonprofit Carnegie Corporation of New York.
Grant Frankel, Gary Phillips, and Ethan Pond of Eastdil Secured arranged the deal on behalf of the owners.