Vanbarton refis FiDi office building with Brookfield at $70M, down from $99.6M in 2014
Vanbarton Group through the entity EO 160 Water LLC as borrower signed a refi loan with lender Brookfield Real Estate Financial Partners through the entity Bref Vi Trs LLC valued at $70 million for the office building (O4) at 160 Water Street in Financial District, Manhattan.
The deal closed on April 30, 2021 and was recorded on May 24, 2021.
The property has 481,858 square feet of built space and 0 square feet of additional air rights for a total buildable of 240,920 square feet according to PincusCo analysis of city data. The loan price per built square foot is $145 per the PincusCo analysis.
The owner bought the property on 7-May-14, for $165.0 million.
The signatory for Vanbarton Group was Justin B. Kleinman. The signatory for Brookfield Real Estate Financial Partners was James Sharkey.
Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $115,358.
This loan refinances a securitized JPMorgan Chase Bank loan with an original principal of $99.6 million from 2014.
Direct link to Acris document. link
