/

|

Continuing a recent flurry of 10-figure Manhattan office securitizations, Bank of America and Wells Fargo once again will lead the refinancing of the MetLife Building at 200 Park Ave., according to published reports. The three-million-square-foot office property was last refinanced for $1.4 billion in 2015. 

The $1.5-billion refi on behalf of the Irvine Company, which assumed sole ownership of the iconic Midtown Manhattan tower last summer, is expected to come in at a 6.25% interest rate, compared to 3.6% a decade ago. The interest-only, fixed-rate loan has a 10-year term.