Deutsche Bank & Barclays Provide $525M Loan For Office Building In Midtown Manhattan

1 Park Avenue, New York, NY, USA

$525,000,000

$11,557/SF

Building Size

45,425 SF

Asset Type

Office

Closing

Feb 7, 2021

AI

The recently closed property transaction involves an office asset located at 1 Park Avenue in Midtown. The deal was finalized on 02/08/2021.

Summary of transation details

Property Type: Office
Transaction Amount: $525,000,000
Address: 1 Park Avenue
Market: Midtown

The loan for this transaction was provided by Deutsche Bank and Barclays. The landlord of the property is Vornado Realty Trust and Canada Pension Plan Investment Board (CPPIB). The brokers involved in the deal were James Millon, Tom Traynor, and PJ Finley from CBRE. The tenants of the office space include Equinox, RAMS Architects, NYU Langone, CitiBank, and Zibetto Espresso.

James Millon, Tom Traynor, and PJ Finley from CBRE represented the parties involved as brokers for this transaction.

Players