JP Morgan Chase has originated a $450 million loan to refinance 452 Fifth Avenue, an 865,000-square-foot tower on Bryant Park owned by an arm of Israel-based IDB Group. The financing comes as the building has undergone capital improvements to areas like elevators, lobby and its entryway.

According to Real Capital Analytics, the loan is for a ten-year term and was arranged by advisory firm Ackman-Ziff. It’s expected to be securitized through a single asset deal.

The building is about 92 percent occupied, by tenants such as law firm Baker & McKenzie, HSBC Bank and First Central National Life Insurance Company. HSBC is the anchor tenant at 452 Fifth Avenue. It occupies 600,000 square feet of space there, having sold its interest in the building in a sale leaseback deal in 2010 for $330 million in cash to current owner IDB Group.

Under that agreement, the bank agreed to leaseback the entire building for a year and then floors one to 11 for 10 years.

According to a spokesperson PBC USA Real Estate is the IDB Group arm that actually owns the 30-story 452 Fifth Avenue. Recent leasing activity there includes RW Presspich, which took 22,363 square feet; Wood Mackenzie, which took 10,338 square feet; and VTB Capital, which signed for 15,428 square feet.

Carl Gaines is reachable at cgaines@observer.com

CBRE has brokered a massive $98 million sale of The Brewster, a 144-unit pre-war apartment building on the Upper West Side, The Commercial Observer has learned.

The 146,000-square-foot building on 21 West 86th Street was sold by previous owner Rambleside Holdings LLC to an unnamed buyer, sources familiar with the deal said.

Darcy Stacom, Robert Garrish and Paul Leibowitz represented the seller in the transaction. They each refused to comment for the piece. A spokesman for CBRE also refused to comment on the deal.

The Brewster is one of the last remaining pre-war residential properties on the Upper West Side to be converted into condos.

CBRE is also marketing 393 West End Avenue, a 113-unit pre-war building, a source said.

Daniel Edward Rosen is reachable at drosen@observer.com