Bank Of America Provides $98M Acquisition Loan For Retail Property In Times Square

Paramount Group, a leading real estate investment and management firm, has secured a $98 million acquisition loan from Bank of America for the retail property located at 1600 Broadway in Times Square. The loan will facilitate Paramount Group's purchase of this prime retail asset.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $98,000,000
• Address: 1600 Broadway, Times Square
• Lender: Bank of America
• Landlord: Paramount Group
• Brokers: Adam Spies, Gideon Gil, Lauren Kaufman & Zachary Kraft - Cushman & Wakefield

Cushman & Wakefield, represented by brokers Adam Spies, Gideon Gil, Lauren Kaufman, and Zachary Kraft, played a pivotal role in the transaction as the exclusive representatives. They facilitated the deal between Paramount Group and Bank of America, ensuring a successful acquisition loan arrangement for the retail property at 1600 Broadway.