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Silverstein, Loeb Land $85M Loan for 529 5th Ave.

NEW YORK CITY-Advised by Cushman & Wakefield, the property owners' strong history was a selling point for lenders.

By Rayna Katz | Updated on November 05, 2013

NEW YORK CITY–Affiliates of Silverstein Properties and Loeb Partners have arranged for an $85 million loan for 529 Fifth Ave. The seven-year financing was provided by Wells Fargo.

Cushman & Wakefield served as the exclusive advisor to the two owners. The firm was represented by Steve Kohn, president, Dave Karson, executive managing director, Alexander Hernandez, managing director and Sridhar Vankayala, associate. “The property has strong in-place cash-flow with great upside potential,” Hernandez says.

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