AXA Equitable Provides $103M Recapitalization for Midtown’s Ellington Building

Rose Associates and its joint venture partner, Morgan Stanley Real Estate Investing (MSREI), has secured $103 million to recapitalize the Ellington, a 29-story multifamily building in Midtown Manhattan, Commercial Observer can first report. 

AXA Equitable provided the debt. No broker was listed on the transaction. 

Marc Ehrlich, president of Rose Associates, noted that the deal is the first in what is expected to be several different acquisition deals between Rose Associates and MSREI. 

“By consolidating the ownership structure, we’ve positioned the Ellington for a very promising future,” added Ehrlich. 

Located at 260 West 52nd Street, at the corner of Eighth Avenue and West 52nd Street, the Ellington opened in 1987. The building features a fitness center and private storage for residents and sits between Broadway’s bustling Theater District to the south and the south entrance of Central Park to the north. 

Brian Pascus can be reached at bpascus@commercialobserver.com.