In one of the agreements, the Moinian Group's loan on 17 BatteryPl., a 22-story, 400,000 square foot office tower, was extended.The lender group also agreed in a separate deal to restructure andextend the mortgage and mezzanine loans on the1.1-million-square-foot 180 Maiden Ln., which houses AIG and lawfirm Stroock & Stroock & Lavan, among other tenants. Thetwo refis total more than $400 million, the Moinian Group says; areport in the New York Post puts the total for the twoproperties at $504 million.


"We have confidence in Joe Moinian's ability to add value to theproperties," says Marc Holliday, CEO of SL Green Realty Corp., amember of the lender group holding the loan on 17 Battery, in astatement. Robert Verrone, principal of real estate advisor IronHound Management Co., acted as special consultant to the MoinianGroup in both transactions.


Separately, the Moinian Group, led by CEO Joseph Moinian,announced the completion of a new first mortgage loan and anextension of a mezzanine loan for the Ocean, a fully leased luxuryresidential rental property at 1 West St. Downtown. Met Lifeprovided the first mortgage for the property, while the mezzanineloan was provided by Deutsche Bank and Resource, for a total of$150 million, according to a release.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.