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310 Greenwich Street

Updated Jun 2, 2025

Steven Roth Of Vornado Realty Trust And Laurence Gluck Of Stellar Management Secure $675 Million Loan In Tribeca
FINANCEDMultiFamily

Steven Roth Of Vornado Realty Trust And Laurence Gluck Of Stellar Management Secure $675 Million Loan In Tribeca

310 Greenwich Street, 40 Harrison Street & 80 North Moore Street

$675,000,000

Units

1,328

Asset Type

MultiFamily

Closing

May 29, 2025

About this deal

AI

The asset involved in this transaction is a multifamily property located at 310 Greenwich Street, 40 Harrison Street, and 80 North Moore Street in the Tribeca market of Manhattan, comprising a total of 1,328 units. The property recently secured a loan amounting to $675,000,000, refinancing a similar-sized loan that was due in July.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $675,000,000
  • Address: 310 Greenwich Street, 40 Harrison Street & 80 North Moore Street
  • Market: Tribeca, Manhattan
  • Units: 1,328
  • Lender: Deutsche Bank, Morgan Stanley, Wells Fargo & Bank of America
  • Landlord: Steven Roth - Vornado Realty Trust & Laurence Gluck - Stellar Management

The key individuals involved in this transaction include Steven Roth representing Vornado Realty Trust and Laurence Gluck representing Stellar Management. Their roles as landlords were critical in securing the financing from the consortium of banks noted above.

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$675,000,000

MultiFamily

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Players

Morgan Stanley
Morgan Stanley Lender

Steven Roth

Vornado Realty Trust

Landlord

$7.7B

vol

50 deals

Landlord
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New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $508.3K per unit across 1328 units on a published $675M (2025).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.02%

Cash-on-Cash

-0.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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