Silverstein refis 4WTC with $1.36B in New York Liberty Development bonds

Silverstein Properties through the entity 4 World Trade Center LLC as borrower signed a refi loan with lender New York Liberty Development Corporation through the entity Bank Of New York Mellon (The) valued at $1.36 billion for the 1.9 million square foot office tower at 4 World Trade Center in Financial District, Manhattan. The loan value did not change from the 2011 amount.
The deal closed on September 14, 2021 and was recorded on October 8, 2021.

The signatory for Silverstein Properties was Michael L. Levy. The signatory for New York Liberty Development Corporation was Richard Cotton.

This is a junior loan provided by the sale of bonds, and refinances a junior loan of the same amount from 2011. The bonds are formally known as the Tax-Exempt Liberty Revenue Refunding Bonds, Series 2021A Tower 4 Bonds. This loan and the prior junior loan are subordinate to the 2010 loan from the Port Authority of New York and New Jersey.
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