The Chetrit Group + Robert Wolf’s Read Property Group have secured $151.5 million from CCRE to refinance 65 Broadway in the Financial District. A quarter of the debt package is a CMBS deal that has a fixed interest rate of 4.94 percent, according to CO.
Property details: The American Express building spans 355,000 SF, and is 99 percent leased to 70 tenants. Last year, the building earned around $14 million in rent and had expenses of $6.7 million. It’s located between Morris Street and Rector Streets.
Financing details: The interest-only loan refinances $102.4 million in debt from New York Community Bank, TRD reported. The debt package has a term of five years and allows the owners to unlock $30.5 million in cash.