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Brian Kingston Of Brookfield Properties Secures $150M Refinance For Lever House In Midtown Manhattan
FINANCED
$150,000,000
New York
See Similar DealsOffice270,000 SF
Financed
FINANCED
Brian Kingston Of Brookfield Properties Secures $150M Refinance For Lever House In Midtown Manhattan
390 Park Avenue
See Similar DealsOffice270,000 SF
Financed
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$555
Total Square Footage:270000 SF
Transaction Type:Loan
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
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$150,000,000.00
Monthly NOI$1,000,000.00
Monthly Debt Service$948,102.04
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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