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Wells Fargo lends to 28 East 28th Street

28 East 28th Street (Credit: WSJ)

George Comfort and Sons, Loeb Partners Realty, and Jamestown Properties have secured a $410 million loan from Wells Fargo to refinance 28 East 28th Street (AKA New York Life building). The 15-story office property spans 870,000 square feet, and is located in Nomad. 

  • Financing details: The new loan replaces $313.5 million in previous debt provided by Bank of China for renovations in 2016, TRD noted.
  • Tenants includeCBS recently renewed its 164,000-square-foot office lease on the eighth through 10th floors. Asking rent on that deal was reportedly in the low-$90s per SF. New York Life is the anchor tenant renting nearly 415,000 square feet. The 60,000-square-foot retail component at the base of the property is occupied by Whole Foods.

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