New York Community Bank provided the debt
Princeton International Properties (PIP) has secured an $100 million loan from New York Community Bank to refinance 90 Broad Street. The Financial District office property spans 413,000 square feet, and contains a ground-floor retail component.
Financing details: The new loan replaces an $80 million mortgage provided by Wells Fargo in 2017, according to CO who first reported the news.
Office tenants include George Braziller, Kepler Cannon, Capuder Fazio Giaccoia and Schwartz, Goldstone & Campisi, and Change to Win… Retail tenants include Café Grumpy, Potbelly Sandwich Shop, Just Salad, Five Iron Golf, and Dunkin Donuts. The property is 97 percent occupied.
Flashback: Princeton International paid $126 million to Kent Swig for the property in 2013.