GFP Real Estate Secures $191M Construction Loan For TriBeCa Office Building

40 Worth Street, New York City, New York 10013, United States

$191,000,000

$238/SF

Building Size

800,000 SF

Asset Type

Office

Closing

Jun 14, 2022

AI

A construction loan worth $191 million has been secured for an office property in TriBeCa, located at 40 Worth St. The asset spans 800,000 square feet, making it a significant investment for the undisclosed buyer.

Summary of transation details

Property Type: Office
Transaction Amount: $191,000,000
Address: 40 Worth St.
Market: TriBeCa
Lender: Wells Fargo, TD Bank, BankUnited
Landlord: GFP Real Estate LLC
Broker: Paul Talbot - Newmark

Ensuring the construction process kicks off smoothly, the seven-year loan was provided by a consortium of lenders including Wells Fargo, TD Bank, and BankUnited. The landlord, GFP Real Estate LLC, will oversee the project in collaboration with the office's representatives, led by broker Paul Talbot from Newmark.

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