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40 Worth Street
FINANCED

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

40 Worth Street

Office
800,000 SF
clock iconFinanced 1 year ago
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Summary

Loan
NEW YORK
Office
800,000 sqft

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.

Players

  • All

    5

  • Agents

    1

  • Agencies

    1

  • Lenders

    3

Paul Talbot's profile picture
Paul Talbot
Newmark-image
Senior Managing Director

Details

Deal Summary
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FINANCED
IMAGE: Eric M. Gural, AnnyRose Pahl, Jeffrey Gural, Jane Gural-Senders, Brian R. Steinwurtzel & Paul Talbot DATE: 06/15/2022 ADDRESS: 40 Worth St. MARKET: TriBeCa ASSET TYPE: Office ~ SF: 800,000 LENDER: Wells Fargo (@WellsFargo), TD Bank (@TDBank_US) & BankUnited LANDLORD: GFP Real Estate LLC BROKER: Paul Talbot - Newmark (@Newmark) LOAN AMOUNT: $191,000,000 LOAN TYPE: Construction LOAN TERMS: 7-year

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Address40 Worth Street

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