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From left: 909 Third Avenue, 79 Fifth Avenue, 240 West 37th Street and 27 East 62nd Street (VNO, Cercone Exterior Restoration, Google Maps)
The 10 largest Manhattan real estate loans recorded in April totaled about $790 million, less than half of March’s total.
Once again, the commercial mortgage-backed securities market produced the month’s largest loan: a refinancing for a Midtown office tower on top of a USPS warehouse. It was also the month’s only loan of more than $100 million.
Here were the borough’s largest real estate loans in April:
1) You’ve got mail | $350 million
Vornado Realty Trust secured a $350 million refinancing for 909 Third Avenue from Citi Real Estate Funding, Bank of America and BMO Harris. The property has a 490,000-square-foot warehouse at its base, which serves as the United States Postal Service’s main mail processing facility in New York City. Major tenants in the office tower include advertising firm IPG DXTRA,
450 West 31st Street, New York, NY 10001 Phone: 212-260-1332
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