Share via Shortlink
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,
Manhattan Office Properties Trade at a Discount therealdeal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from therealdeal.com Daily Mail and Mail on Sunday newspapers.
450 West 31st Street, New York, NY 10001 Phone: 212-260-1332
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. click hereOk, Got it
Privacy & Cookies Policy
Privacy Overview
This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
The buildings add to the Chapman Group’s extensive Upper East Side portfolio, which also includes 337 E. 64th St., 124 E. 63rd St., 113 E. 84th St., 111 E. 82nd St. and 221–243 E. 94th St., according to the firm’s website. Chapman has properties in Greenwich Village and Kips Bay as well.
The MacAndrews & Forbes–linked entities have owned 35 E. 62nd St. since 1989 and 39 E. 62nd St. since 2004. It bought them for about $14.6 million, property records show. The company is currently based at 35 E. 62nd St., according to its website. It is unclear if the firm will remain there after the sale is completed.