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SL Green Takes $275M Loan for 220 E. 42nd St.

NEW YORK CITY-Close to Grand Central Station with a lobby made famous in a movie, the asset spans 1.2 million square feet.

By Rayna Katz | Updated on November 15, 2013

NEW YORK CITY–An affiliate of SL Green Realty Corp. has procured a $275 million senior mortgage loan for 220 E. 42nd Street. The seven-year financing was provided by Wells Fargo. Cushman & Wakefield served as an advisor on the deal.

220 East 42nd Street, also known as the News Building, is a 37-story, 1.2 million square foot, multi-tenanted, office building located between Second and Third avenues that sits near Grand Central Terminal. Major tenants in the building include Omnicom Group, WPIX—which is owned by the Tribune Co., and the United Nations. Its landmark lobby features a rotating globe, which was made famous in the Superman television series of the 1950′s and continues to attract visitors from around the world.

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