L&L Refinances Metropolitan Tower With $100M Aareal Loan
New York-based L&L Holding Company took a $100 million loan from German lender Aareal Capital Corporation to refinance a commercial portion of its Metropolitan Tower at 146 West 57th Street, records filed with the city show.
The five-year mortgage closed on March 26 and replaces a 2011 loan from ING Real Estate Finance, which sold $1.6 billion of its debt to Wells Fargo in August 2013.
The 77-story mixed-use tower between West 56th and West 57th Street contains 235 apartment units, 211,617 square feet of office space and 3,036 square feet of ground-floor retail space.
The 531,657-square-foot property was completed in 1986.
An L&L representative declined to comment on the financing. Representatives for Aareal were unavailable for comment.