GFP Real Estate Secures $95 Million Bridge Loan From Bank Of New York Mellon For Office Portfolio

The transaction involves a portfolio consisting of three buildings located at 740 Broadway, 10 Astor Place, and 440 Lafayette Street in Manhattan. The total asset type is a blend of office and retail, encompassing 372,000 square feet. The landlord for this portfolio is Jeffrey Gural from GFP Real Estate, who has secured a bridge loan amounting to $95 million from Bank of New York Mellon to refinance these properties.

Summary of transaction details:

• Property Type: Office & Retail
• Transaction Amount: $95,000,000
• Address: 740 Broadway, 10 Astor Place & 440 Lafayette Street
• Market: Manhattan
• Loan Type: Bridge
• Lender: Bank of New York Mellon
• Landlord: Jeffrey Gural - GFP Real Estate
• Broker: Paul Talbot - Newmark
• Tenants: The Malin, Maybern Solutions, and Civic Entertainment Group

Paul Talbot from Newmark represented the landlord in this loan transaction, facilitating the refinancing process for the fully leased portfolio. The involvement of Bank of New York Mellon as the lender indicates the financial structuring necessary to support these real estate assets within the competitive Manhattan market.