Olayan Group lands $800M refinancing for 550 Madison Avenue (Sony Building), Midtown NYC

ING Capital added $230 million of new debt to Olayan Group's existing $570 million loan balance on 550 Madison Avenue - the iconic "Sony Building" - effectively delivering an $800 million total refinancing. ING Capital originally provided the loan in 2016 when Olayan purchased the 41-story, 800,000-square-foot Midtown tower for $1.4 billion. The refinancing follows a $300 million renovation of the building and a major leasing achievement: Aquarian Holdings signed a 75,000-square-foot lease, boosting occupancy to approximately 96%.