Articles of the week ending February 27th
Wells Fargo Refinances Global Holdings’ 1250 Broadway With $450M CMBS Loan
By Andrew Coen, Commercial Observer
Wells Fargo provided a $450 million three year CMBS loan to refinance Global Holdings’ 39 story NoMad Tower at 1250 Broadway in Manhattan, with the deal arranged by Eastdil Secured.
The Five U.S. Office Buildings Leading the Race for Record Rents
By Larry Getlen, Commercial Observer
Top US office buildings setting record rents include One Vanderbilt, 425 Park Avenue, Transamerica Pyramid, 830 Brickell and Seagram Building, with rents reaching as high as $400 per square foot driven by luxury design, prime locations and strong demand from top tier tenants.
Sports Betting Platform Fanatics Inks Deal for Entire 210K SF at 95 Morton Street
By Amanda Schiavo, Commercial Observer
Fanatics signed a lease expansion to occupy the full 210000 square feet at 95 Morton Street in the West Village making it the building’s sole tenant through 2038.
Lenders seek foreclosure of Worldwide Plaza, a fixture of New York’s skyline
By Andria Cheng, CoStar News
Lenders including Goldman Sachs and Deutsche Bank have filed to foreclose on Worldwide Plaza, majority owned by SL Green Realty and RXR, after the property lost nearly 80 percent of its value following a major tenant’s departure and default on a 940 million dollar loan.
Legends Global and King & Wood Mallesons sign new leases at Rockefeller Center
By Julian Nazar, Crains New York Business
Rockefeller Center has reached 98 percent occupancy after new 10 year leases with Legends Global and King & Wood Mallesons at 600 Fifth Avenue.
Judge asked to set value of West 34th Street land in Vornado-Korein lease dispute
By Aaron Elstein, Crain’s New York Business
The Korein family has asked a judge to determine the value of their West 34th Street land beneath Vornado’s PENN 1 amid a bitter dispute with Vornado Realty Trust over resetting ground rent tied to the property’s fair market value.
American Express Finalizes 2M-SF Office Deal at 2 World Trade Center
By Mark Hallum, Commercial Observer
American Express finalized a deal with Silverstein Properties to become the sole anchor tenant of the nearly 2 million square foot 2 World Trade Center, where it will relocate its global headquarters and occupy 55 floors upon completion in 2031.