Sheppard Mullin Represented Signature Bank in $140 Million Loan Secured by the French Building in New York City
A Sheppard Mullin New York Real Estate Team represented Signature Bank as Administrative Agent and lead lender in connection with a $140 million real estate loan secured by the French Building in New York City. Signature Bank, along with co-lender Metropolitan Commercial Bank, on November 1, 2022, refinanced existing mortgage debt and made funds available for tenant improvements, leasing commissions and capital expenditures for the iconic French Building, a 38-story skyscraper located on Fifth Avenue in Midtown Manhattan. The French Building was originally built in 1927 and later designated as a New York City Landmark and added to the National Register of Historic Places.
The Sheppard Mullin team was led by New York Real Estate partner Scott Stern and included partner Richard Fries and special counsel Darby Brown.