FINANCED
GFP Real Estate Secures $191M Construction Loan For TriBeCa Office Building
40 Worth Street
Office
800,000 SF
800,000 SF
Financed 1 year ago
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
4
Agents
1
Agencies
1
Lenders
2
Details
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-yearView on map
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Address40 Worth Street
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