Morgan Stanley plans to issue a $525 million of bonds backed by a mortgage on 150 East 42nd Street, a 42-story class A office building comprising 1.7 million square feet in the Grand Central submarket of Manhattan.

The loan backing MSC 2014-150E has a principal balance of $525 million and  is interest-only for its entire 10-year term and is schedule to mature in September 2024, according to Standard & Poor’s presale report. The  interest rate on the loan is 4.30%.

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