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Brookfield Properties Secures $1.25B Refinance Loan From Citibank For Condos In Hudson Yards

Property Image
FINANCED
$1,250,000,000
Brian Kingston
Bruce Flatt

New York

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Condo157,104 SF
Financed 03/28/2025
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FINANCED

Brookfield Properties Secures $1.25B Refinance Loan From Citibank For Condos In Hudson Yards

450 West 33rd Street

See Similar Deals
Condo157,104 SF
Financed 03/28/2025
Brian Kingston
Bruce Flatt
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Condo
Price Per Square Foot:$7,956
Total Square Footage:157,104 SF
Transaction Type:Loan

The asset involved in this transaction is a condo located at 450 West 33rd Street in Hudson Yards, Manhattan. The property encompasses a total square footage of 157,104 and is classified as a condo. The refinancing loan secured for this asset amounts to $1,250,000,000.

Summary of transaction details:

  • Property Type: Condo
  • Transaction Amount: $1,250,000,000
  • Lender: Citibank
  • Landlord: Bruce Flatt & Brian Kingston - Brookfield Properties
  • Loan Type: Refinance

This transaction reflects a significant involvement of Brookfield Properties, with Bruce Flatt and Brian Kingston acting as key figures representing the landlord in securing the refinance loan for the office and retail condos at the property. The deal highlights the financial collaboration with Citibank as the lender in this substantial transaction.

Players

Citibank
Citibank
LENDER

Details

FINANCED
IMAGE: Bruce Flatt & Brian Kingston DATE: 03/28/2025 ADDRESS: 450 West 33rd Street MARKET: Hudson Yards, Manhattan ASSET TYPE: Condo ~ SF: 157,104 LENDER: Citibank LANDLORD: Bruce Flatt & Brian Kingston - Brookfield Properties (@BrookfieldProperties) LOAN AMOUNT: $1,250,000,000 LOAN TYPE: Refinance NOTE: Brookfield Properties secured a $1.25B refinance loan from Citibank for the office and retail condos at 450 West 33rd Street in Hudson Yards.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$1,250,000,000.00

Monthly NOI$8,333,333.33
Monthly Debt Service$7,900,850.29
Change in Cash Flow$0.00
Refinance Proceeds$0.00