Citi Provides $60M CMBS Loan for Gorjian’s Acquisition of 192 Lexington Avenue

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Gorjian Real Estate Group has landed a $60 million loan for its acquisition of 192 Lexington Avenue, Commercial Observer has learned.

SEE ALSO: Citi Provides $30M Acquisition Loan for Nebraska Office Property

Citigroup provided the 10-year, interest-only commercial mortgage-backed securities loan and Meridian Capital Group negotiated the financing, sources told CO.

The acquisition price couldn’t immediately be ascertained, but The Real Deal first reported in May that the estate of landlord Amelia Gould was in contract to sell the property to Gorjian for upward of $90 million. The Gould family had owned the property since 1927. 

The 17-story, 140,000-square-foot property, between East 31st and East 32nd Streets, was built in 1926. Its tenants include law firms Goldberg & Fliegel and Marion Polovy Law Offices as well as R.F. Stuart Real Estate and the New York Institute of Photography.

Gorjian’s New York portfolio includes rental buildings at 460 West 20th Street, 220 Saint Nicholas Avenue and 30 West 18th Street as well as Class-A office buildings at 636 11th Avenue and 250 West 49th Street.

Officials at Citi and Meridian declined to comment. Officials at Gorjian did not immediately return a request for comment.