Grubb Properties Refinances Development Site In Financial District For $45.1M

A development site located at 111 Washington Street in Manhattan's Financial District has secured a $45.1 million refinance loan. The property, represented by Carlisle New York Apartments, LLC on behalf of Grubb Properties, will benefit from the funding provided by Naftali Credit Partners. With a building square footage (BSF) of 340,376, the site offers ample potential for development.

Summary of transation details

• Property Type: Development Site
• Transaction Amount: $45,076,728
• Address: 111 Washington Street
• Market: Financial District, Manhattan
• Lender: Naftali Credit Partners - Glenn Grimaldi
• Landlord: Grubb Properties - Robert Miller

In this deal, the loan was provided by Naftali Credit Partners, with Glenn Grimaldi as their representative. Grubb Properties, acting through their broker Carlisle New York Apartments, LLC, successfully secured the $45.1 million refinance loan for the development site at 111 Washington Street. This transaction will support future advancements and improvements to the property within Manhattan's bustling Financial District.