CSC signs $28.9M acquisition loan with Genesis LLC for office in Financial District

CSC Real Estate through the entity 75 Maiden Lane LLC as borrower signed an acquisition loan with lender Genesis LLC through the entity NEG Financing 5 LLC valued at $28.9 million for the office building (O6) at 75 Maiden Lane in Financial District, Manhattan.
The deal closed on September 30, 2025 and was recorded on November 3, 2025. The prior lender was Flagstar Bank which held debt that had an original loan amount of $43.7 million. The property has 155,026 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $186 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The owner bought the property on October 1, 2025, for $40.2 million. The signatory for CSC Real Estate was Alberto Smeke Saba .

Prior sales and revenue

The 155,026-square-foot property generated revenue of $5.7 million or $37 per square foot, according to the most recent income and expense figures.

The property

The office building in Financial District has 155,026 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 101 feet and is 95 feet deep with a total lot size of 14,048 square feet. The lot is irregular. The zoning is C5-5 which allows for up to 15 times floor area ratio (FAR) for commercial and up to 10 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $28.3 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $2,150 in OATH penalties in the last year.

Development

For the tax lot building, it received its initial certificate of occupancy on October 3, 2013. There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In Financial District, The majority, or 74 percent of the 79.9 million square feet of commercial built space are office buildings, with elevator buildings next occupying 15 percent of the space. In sales, Financial District has the 4th highest sale turnover among other neighborhoods in the city with $2 billion in sales volume in the last two years. For development, Financial District is the 4th most active neighborhood among other neighborhoods. It had 15 million square feet of commercial and multi-family construction under development in the last two years, which represents 19 percent of the neighborhood’s built space. There was one pre-foreclosure suit filed among other office buildings in the past 12 months.

The block

On this tax block, PincusCo has identified the owners of four of the six commercial properties representing 655,105 square feet of the 882,094 square feet. The largest owner is John Hancock Life Insurance Company, followed by Vanbarton Group and then Csc Real Estate.
There are no active new building construction projects on this tax block.

The majority, or 78 percent of the 882,094 square feet of built space are office buildings, with hotel buildings next occupying 22 percent of the space.

The borrower

The PincusCo database currently indicates that CSC Real Estate owned at least three commercial properties in New York City with 362,913 square feet and a city-determined market value of $81.5 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 100 percent of the 362,913 square feet of built space are office properties, with industrial properties next occupying 0 percent of the space. They are all located in Manhattan.

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