Richard Cohen and Gary Darman obtain $123M mezz loan from Madison International Realty for 111-115 Broadway

Richard Cohen and Gary Darman through the entity Trinity Centre LLC as borrower signed a mezzanine financing agreement with lender Ronald Dickerman’s Madison International Realty through the entity MIRELF VII JV NY-MA OFFICE, LLC valued at $122.7 million for 2 parcels, including the tax class office building tower type with 20 or more stories (O4) at Trinity Centre at 111-115 Broadway in the Financial District. The deal closed on March 3, 2020 and was recorded on March 10, 2020.
The property contains a total of 396,607 square feet of built space.
The average loan per buildable square foot is $326.
This is a mezzanine loan secured by a pledge of all Trinity 1 LLC’s interest in Trinity Centre LLC, which owns the property. Trinity 1 LLC is the sole member of Trinity Centre LLC. More building information in SEC filing.

Over the past five years, there have been 51 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 51 renovation/alteration projects (A2) applied for with a total estimated value of $21,414,949.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link