William Kaufman, The Travelers Companies Have Secured $185 Million Refinance For 437 Madison Ave.

The William Kaufman Organization and The Travelers Companies have closed a $185 million refinance for 437 Madison Avenue.

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 CompanyCitizens 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. 

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