Cain and Alchemy-ABR Investment Partners obtained a $321 million loan for an office tower on Manhattan’s Billionaires’ Row. The property is located at 125 W. 57th St. The loan reflects surging demand for high-end office space. The transaction is expected to value the property at more than $600 million once certain leasing milestones are reached. The valuation depends on achieving those leasing targets, linking the final property value to tenant leasing progress.
"Cain and Alchemy-ABR Investment Partners obtained a $321 million loan for an office tower on Manhattan's Billionaires' Row, the latest reflection of surging demand for high-end office space."
"The transaction will value the property, located at 125 W. 57th St., at more than $600 million once certain leasing milestones are reached, according to a person familiar with the matter who requested anonymity to discuss valuation."
#manhattan-real-estate #commercial-office-space #billionaires-row #real-estate-financing #property-valuation
Read at www.bloomberg.com
Unable to calculate read time
Collection
[
|
...
]