Clarion, MHP finish $13M build-out for National Debt Relief of FiDi office

Clarion Partners and MHP Real Estate Services, on April 15, formally completed a $13 million build-out for tenant National Debt Relief, of several floors of an office building at 180 Maiden Lane in the Financial District.

The plans, pre-filed on November 15, 2018, call for a renovation of the 554-foot tall, 41-story building.

The project is described in the filings as: minor demolition with installation of new partitions, doors, suspended ceilings and finishes (National Debt Relief) as per plans. No change to use, egress or occupancy. The initial cost as reported in the DOB filing for the work described in this permit application is $12,978,000.

Spector Group was the architect.

In May of 2018, the debt-consolidation firm National Debt Relief signed a lease to occupy floors 29 through 31 of the building. The tenant later signed an additional lease for another 30,000 square feet of space in the building.

The joint venture bought the tower for $470 million in 2015. In January of 2020 they signed a loan agreement with ING Real Estate Finance valued at $372 million. The loan included a $38.3 million building loan and a project loan, and replaced $264 million in debt provided by Blackstone Group.

Direct link to Acris document. LINK

Direct link to DOB document. LINK