JLL’s Capital Markets group has arranged a $352 million refinancing for 425 Lexington Avenue, a 31-story, 750,000-square-foot Class A office tower.
JLL worked on behalf of the borrower, Vanbarton Group LLC, to secure the floating rate, single-asset single-borrower refinancing through Goldman Sachs, which was pre-placed entirely with funds and accounts managed by BlackRock.
425 Lexington Avenue is a LEED Gold-certified office tower that serves as the global headquarters location for long-time anchor Simpson Thacher. Overall, the property is 99% leased and undergone nearly $35 million in recent upgrades, including a new amenity center. The newly delivered LX Club is a 16,700-square-foot, state-of-the-art amenity center that includes a wellness center with Technogym equipment, a sauna and a yoga studio, multiple tenant lounges, a 45-person conference facility and a golf simulator.
JLL’s Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Directors Christopher Peck and Drew Isaacson and Directors Christopher Pratt and Jennifer Zelko.
“As we move into the second half of 2026, New York City’s office market shows exceptional strength, with high-quality space increasingly scarce,” said Peck. “Premium office towers like 425 Lexington continue to attract robust financing interest from lenders driven by the building’s consistently strong occupancy rates, prime location opposite the city’s most heavily trafficked transit hub, and recent upgrades that include highly desirable tenant amenities.”
Photo credit: C. Taylor Crothers
