Retail Component of Upper East Side Bridge Tower Place Secures $134.4M Refinancing

Gazit Horizons has refinanced the retail component at the base of mixed-use condominium Bridge Tower Place, 401 E 60th Street, which also goes by the address 400-418 East 61st Street. The $134.4 million in permanent credit term lease bond financing will carry a fixed-rate of 3.295%, and is secured by both the retail property and the lease for incoming tenant Home Depot. According to city records, the approximately 94,507 square feet of retail space and 28,642-square-foot garage were acquired by the subsidiary of Israeli investment firm Gazit Globe in October 2017 for a combined total of $79.75 million.