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:
- 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