9 W. 57th St. 9 W. 57th St. reportedly is considered as one of the nation’s premier trophy office buildings.

NEW YORK CITY—Affiliates of Solow Realty & Development Co. have secured a $1.2 billion, 10-year fixed-rate first-lien fee and leasehold mortgage for 9 W. 57th St. Financing was provided by JP Morgan Bank, National Association.

A portion of the loan proceeds were used to defease the existing $625 million loan originated in 2012 which loan was held in a single asset securitization. A spokesperson for the law firm of Shearman & Sterling, which represented Solow in the transaction, declined to reveal how the remaining loan proceed would be spent.

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Rayna Katz

Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.

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