Philadelphia Skyline

Itkowitz PLLC Represented Borrower in $156,000,000.00 Refinance of Iconic McGraw Hill Building in Midtown

August 31, 2015

Itkowitz PLLC closed out the month of August 2015 with representation of the borrower on the completion of a $156,000,000.00 refinance of a landmark mid-town building.  Completed in 1931 for McGraw-Hill to serve as the publishing firm’s headquarters for several decades, the 590,000-square-foot building also housed corporate offices, warehouse, retail, manufacturing, and other facilities. The building—a veritable Art Deco piece that was declared a National Historic Landmark in 1989—was designed by architect Raymond Hood to support massive printing presses, so it would allow for a potential conversion to loft-style, open-floor office layouts that are in high-demand in the area.

McGraw-Hill Building

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