One Madison Ave’s Ownership to Share a $308M Dividend as Part of a $1.7B Refi Deal

The announced $1.7 billion refinancing of One Madison Avenue will reportedly provide a $308 million dividend to be shared by the owning partnership. SL Green Realty, Hines, the National Pension Service of Korea, and Korea-based Mastern Investment Management, invested a total of $2.3 billion in 2020 for the project that included an 18-story vertical expansion according to the article by Crain's New York, citing information within a new report from Fitch Ratings. Currently fully leased, the refinancing of the approximately 1.4 million-square-foot building located on the corner of East 23rd Street "is expected to price on Friday, March 20."

Source: https://www.crainsnewyork.com/real-estate/commercial/cny-slgreen-refinancing-1-madison-ave-20260319/