JLL Capital Markets arranges Meadow Partners’ $62M equity investment in 51 Astor Pl.

NEW YORK, N.Y., Jan. 22, 2026 – JLL Capital Markets announced today that it has arranged $62 million in preferred equity for 51 Astor Place, a trophy office property located in Manhattan’s NoHo neighborhood.

JLL represented the sponsor, a joint venture between Edward J. Minskoff Equities, Inc. (EJME) and LaSalle Investment Management, in securing the investment from Meadow Partners, an institutional middle-market real estate private equity investor. 

Designed by Pritzker Prize-winning architect Fumihiko Maki, 51 Astor Place is a 12-story, LEED Gold-certified office building totaling approximately 386,000 square feet and occupying a full city block bounded by Astor Place, Third Avenue, Fourth Avenue and East 9th Street.

Delivered in 2013, the 51 Astor Pl. features floor-to-ceiling glass, 14- to 18-foot slab-to-slab ceiling heights and a comprehensive amenity package, including a tenant lounge, conference center, fitness facility and private outdoor terrace. The property is leased to a diverse roster of high-credit retail and office tenants, including Intuit, Perceptive Advisors, Tudor Investments and DailyMail.Com. 

The JLL Capital Markets team representing the sponsor was led by Senior Managing Directors Kelly Gaines and Drew Isaacson, along with Directors Christopher Pratt and Jennifer Zelko. A JLL team led by Paul Glickman represents 51 Astor in the leasing market.

“51 Astor Place stands at the intersection of exceptional design, strong sponsorship and one of Manhattan’s most supply-constrained office submarkets,” said Gaines. “The preferred equity structure provided an efficient capital solution that allows the sponsor to continue executing its leasing and value creation strategy without disturbing an existing below-market CMBS loan.”

“We are pleased to further our longstanding partnership with EJME through the preferred equity financing of 51 Astor Place,” said Marc Mechanic, Partner at Meadow Partners. “This transaction reflects our deep experience structuring differentiated capital solutions that align with high-quality sponsor priorities and institutional assets. As the Manhattan office market continues to favor premier locations and well-capitalized ownership, we remain committed to supporting opportunities that benefit from durable demand and thoughtful execution.”

Added Isaacson, “Despite broader uncertainty, investor appetite for institutional-quality office assets has continued to deepen, particularly for newer construction. As highlighted in JLL’s recent research, top-tier buildings like 51 Astor Place with strong tenancy and limited competitive supply are attracting differentiated capital seeking long-term durability and upside.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

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