The Real Deal New York

Rubin Schron refinances 45 Broadway for $95M

Developer bought the 32-story office building for $60 million in 2000

July 30, 2015 12:35PM

From left: 45 Broadway in Downtown Manhattan and Rubin Schron

From left: 45 Broadway in the Financial District and Rubin Schron

Cammeby’s International secured nearly $100 million to refinance the mortgage of a 32-story office tower in the Financial District.

Rubin Schron bought the 380,000-square-foot office building at 45 Broadway in 2000 for $60 million.

Cornerstone Real Estate Advisers provided the $95 million credit, according to Commercial Real Estate Direct.

Meridian Capital Group’s Abe Hirsch and Daniel Jacob brokered the 12-year loan, according to an announcement by the mortgage brokerage. Earlier this spring, Ralph Herzka‘s Meridian launched Meridian Investment Sales, a new division of the firm specializing in brokering building sales.

Multiple law firms are located in the building — Cozen O’Connor occupies 50,107 square feet, Winget, Spadafora & Schwartzberg takes up roughly 20,000 square feet — as well as Axiom Software and technology consultant MTM Technologies. Asking rents in the building range from $40 per square foot for the lower floors to $50 per square foot on the higher floors. The ground floor retail space holds more than 3,800 square feet. [Commercial Real Estate Direct] — Claire Moses