The General Motors Building at 747 Fifth Ave. Source: Boston Properties The General Motors Building at 747 Fifth Ave. totals approximately 1.8 million square feet of rentable space. Source: Boston Properties

NEW YORK CITY—Boston Properties, Inc. has closed on the $2.3-billion refinancing of the General Motors building at 767 Fifth Ave. The deal announced last evening is believed to be one the largest financing deals for a single office asset on record in the United States.

New York City-based law firm Goulston & Storrs arranged the 10-year interest-only financing deal on the 1.8-million-square-foot property with a group of lenders led by Morgan Stanley. The group of lenders also included Wells Fargo, Deutsche Bank and Citi, has learned. The newly secured financing matures on June 9, 2027.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.