Trump Refinanced $7 Million Loan for Jean Georges Space in July
- Ladder Capital, a frequent Trump lender, issued the mortgage
- Previous loan issued by subsidiary of UBS Group in 2006
Lights reflect off the entrance of Jean-Georges, a restaurant located at 1 Central Park West in New York.
Photographer: Rich Press/BloombergA limited liability corporation owned by then-presidential candidate Donald Trump refinanced a $7 million loan in July, secured by a space occupied by Manhattan’s storied Jean Georges restaurant and the building’s parking garage.
Ladder Capital Corp. refinanced the loan issued to TIHT Commercial LLC, according to a Feb. 7 regulatory filing by Wells Fargo & Co., which bundled the mortgage with other debt to sell to investors. A previous loan for the same amount, disclosed by Trump in a filing to the U.S. Federal Election Commission in May, had been issued against the space by a subsidiary of UBS Group AG in 2006. The new loan has a 4.05 percent interest rate, compared with a 6.18 percent rate for the previous loan.