Brookfield adds $85M for total of $835M from Wells Fargo, Goldman, BMO Harris at 1 NY Plaza

Brookfield Properties through the entity One Ny Plaza Co. LLC as borrower signed a loan agreement with lender Wells Fargo, Goldman Sachs and BMO Harris Bank valued at $835 million for 52 parcels, including the tax class office condominium (RB) at One New York Plaza in the Financial District. The deal closed on December 15, 2020 and was recorded on December 23, 2020.

Brookfield obtained an $85 million gap loan. The prior maximum debt was $750 million that a Wells Fargo group provided in 2016.
Over the past five years, there have been 96 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $2,300,000.0. There were 95 renovation/alteration projects (A2) applied for with a total estimated value of $82,176,612.

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