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The Diamond Tower Gets $195 Million in Refinancing

SL Green and PGIM obtain a loan to finance leasing costs and capital improvements at Tower 46.

By Betsy Kim | Updated on October 31, 2017

Tower 46 in Midtown gets refinancing to complete building lease up.

NEW YORK CITY—The International Gem Tower, also known as the Diamond Tower or Tower 46, located at 55 W. 46^th Street, is getting $195 million in refinancing, as the original loan which financed the acquisition was coming due. The loan will finance future leasing costs associated with any new leasing and capital improvements.

In Tower 46, SL Green Realty Corp., New York City’s largest office landlord and PGIM, Inc., the global investment management arm of Prudential Financial, Inc., own a commercial condominium unit, comprising 319,000 square feet, the top 13 floors, floors 22 through 34, along with the second floor that houses a fitness center, an underground parking garage, and ground floor retail space along 46^th Street.

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