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390 Park Avenue

Brian Kingston Of Brookfield Properties Secures $150M Refinance For Lever House In Midtown Manhattan
FINANCEDOffice

Brian Kingston Of Brookfield Properties Secures $150M Refinance For Lever House In Midtown Manhattan

390 Park Avenue

$150,000,000

$555/SF

Building Size

270,000 SF

Asset Type

Office

Closing

Dec 18, 2025

AI

Lever House is an office asset located at 390 Park Avenue in Midtown Manhattan. The property encompasses a total square footage of 270,000 and is fully leased, featuring notable tenants such as The Northern Trust Company and Quantum Energy Partners.

Summary of transaction details:

The refinancing deal involved Brian Kingston representing Brookfield Properties and WatermanCLARK, highlighting the collaboration between these entities in managing the property following its acquisition in 2020 and subsequent $100 million renovation.

Players

BM
Bank of New York MellonLender

Brian Kingston

Brookfield Properties

Landlord

$7.7B

vol

44 deals

Landlord

New York Office Market Snapshot

Boundary boundary · Office · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.11%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93