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
About this deal
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:
- Property Type: Office
- Transaction Amount: $150,000,000
- Lender: Bank of New York Mellon
- Landlord: Brian Kingston - Brookfield Properties & WatermanCLARK
- Loan Type: Refinance
- Date: 12/18/2025
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
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