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Macklowe Properties Acquires One Wall Street For $750M With Deutsche Bank Financing

1 Wall Street
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This Office property located in NY received a loan of $750,000,000 over 5 years ago. The brokers of the deal were Kellogg (Kelly) Gaines and Aaron Appel

The property involved in this transaction is located at One Wall Street in Manhattan. The asset type is an office building that will be converted into residential condominiums. The transaction took place on November 21, 2018.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $750,000,000
  • Address: One Wall Street, Manhattan
  • Market: Manhattan
  • Lender: Deutsche Bank
  • Borrower: Macklowe Properties
  • Brokers: Aaron Appel and Kellogg Gaines of JLL NY Capital Markets
  • Loan Terms: 5 year term with an approx. 5% rate

Aaron Appel and Kellogg Gaines from JLL NY Capital Markets represented the borrower, Macklowe Properties, in this transaction. Deutsche Bank provided the loan of $750,000,000 with a 5-year term and an approximate interest rate of 5%.

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Deals
  • Location
    1 Wall Street, Manhattan, New York, NY, USA1 Wall Street, Manhattan, New York, NY, USA
  • Loan Value
    $750,000,000$750,000,000
  • Asset Type
    OfficeOffice
  • Parties
    2 Brokers, 2 Agencies, 1 Lender2 Brokers, 2 Agencies, 1 Lender

Agents

Kellogg (Kelly) Gaines

Kellogg (Kelly) Gaines

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Financed$1.2B

Aaron Appel

Aaron Appel

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Financed$15.1B

Agencies

JLL

JLL

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Volume$332.6B

Walker & Dunlop

Walker & Dunlop

Agency
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Volume$76.5B

Deutsche Bank

Deutsche Bank

Lender
Deals117
Volume$ 2.7T

Deal Summary

IMAGE: Aaron Appel, Kellogg Gaines and Harry Macklowe DATE: 11/21/2018 ADDRESS: @OneWallStreet MARKET: Manhattan ASSET TYPE: Office ➡️ Resi Condo conversion LENDER: @DeutscheBank BORROWER: @MackloweProperties BROKERS: Aaron Appel and Kellogg Gaines @JLL_NY_CapitalMarkets LOAN AMOUNT: $750,000,000 LOAN TERMS: 5 year term with an approx. 5% rate.

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