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JLLBullishCorporate Developmentsnews

High materiality7/10

JLL secures $352 million refinance for 425 Lexington amid NYC office strength

Jul 9, 2026, 9:41 AM EDT1 sourcesAI-analyzed

Why it may matterVerify against the original reporting

Positive signal for JLL’s debt-advisory franchise and the health of NYC office financing; potential near-term uptick in investor confidence around JLL's ability to win sizable capital-market assignments.

AI summary

What happened, with direct paths to the underlying reporting

JLL's Capital Markets arranged a $352 million SASB refinancing for 425 Lexington Avenue in Midtown Manhattan, with Goldman Sachs as lender and BlackRock pre-placing the loan. The 99% leased, LEED Gold tower has undergone about $35 million in upgrades, highlighting strong demand for top-tier space near Grand Central. The deal underscores healthy debt liquidity for high-quality NYC offices and could bolster JLL's capital markets advisory momentum.

JLL arranged a $352M refinancing for 425 Lexington Avenue.
Floating-rate SASB loan pre-placed with BlackRock; lender: Goldman Sachs.
425 Lexington: 31-story, 750k sq ft LEED Gold Class A tower.
Property 99% leased with $35M upgrades including LX Club amenities.

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