Circle Realty Group Secures $100 Million Refinance For Penn Plaza Office Property In Manhattan

The property asset involved in this transaction is an office building located at 225 W 34th St, known as 14 Penn Plaza, situated in the Manhattan market. The total square footage of the asset is 551,000. This transaction is characterized by a loan amount of $100 million specifically aimed for refinancing the existing financing of the property.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $100,000,000
• Address: 225 W 34th St - 14 Penn Plaza
• Market: Manhattan
• Asset Type: Office
• Square Footage: 551,000
• Lender: Cynthia Wang & Howard Hsu - Apple Bank
• Landlord: Jay Futersak - Circle Realty Group
• Broker: Tal Bar-or & David Strongwater - Lantern Real Estate
• Loan Type: Refinance

This transaction highlights the role of Circle Realty Group, led by Jay Futersak, which secured the significant financing through Lantern Real Estate, represented by brokers Tal Bar-or and David Strongwater. The involvement of Apple Bank as the lender underscores the financial component of this refinancing arrangement.