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GO Partners Refinances 685 First Ave at $450M Valuation, Backed by $240M from Apollo Global
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GO Partners has successfully refinanced 685 First Avenue in Murray Hill, valuing the property at $450 million—a 16% increase from its 2022 purchase price. The recapitalization was supported by $240 million in financing from Apollo Global Management and involved partnerships with RXR and Macquarie Capital.
The 43-story residential tower, designed by Richard Meier & Partners Architects, features 408 rental units and offers amenities such as a fitness center, swimming pool, and resident lounge. GO Partners’ strategic refinancing underscores the property’s strong performance and the firm’s confidence in the New York City real estate market.
This transaction highlights the continued interest of major investors like Apollo Global Management, RXR, and Macquarie Capital in prime Manhattan assets. The increased valuation reflects the property’s desirability and the resilience of the city’s real estate sector.
The successful recapitalization of 685 First Avenue positions GO Partners to capitalize on future opportunities in the dynamic Manhattan real estate market.
