Rockwood Capital’s $260 million Loan for 2 Grand Central Tower in NYC


Stroock represented real estate investment firm Rockwood Capital LLC in a $260 million loan for its office building at 140 E. 45th St., also known as 2 Grand Central Tower, in the Midtown East section of Manhattan.

According to terms of the loan, $60 million is new capital and $200 million will be used to refinance existing debt at the property.

Rockwood, which purchased the 44-story tower in 2011 from Macklowe Properties, is a tenant in the building along with wealth management firm BBR Partners, healthcare investor Cortec Group, financial firm Banorte Securities and the General Services Administration. The building has 650,000 square feet of space and was built in 1981.

Rockwood Capital is a real estate investment firm specializing in equity capital, repositioning, recapitalization, development and redevelopment of retail, hotel, residential, office and research and development throughout the United States. The Firm, led by Peter J. Falco, Walter P. Schmidt, Peter A. Kaye, Peter A. Kaye, Tyson E. Skillings, Robert L. Gray, Jr., David A. Streicher, David I. Becker, Antonio Lariño and Neil H. Smith, is based in NY.

The Stroock real estate team that represented Rockwood Capital included Diana Brummer (Picture) and Elizabeth Akerman.

Involved fees earner: Diana Brummer – Stroock; Elizabeth Akerman – Stroock;

Law Firms: Stroock;

Clients: Rockwood Capital;

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Author: Ambrogio Visconti