From left: Mitch Rudin, CEO of Brookfield Properties, and 4 World Financial Center

Brookfield Properties, Lower Manhattan’s largest landlord, has completed a $270 million refinancing of 4 World Financial Center, with loans from a syndicate led by Deutsche Bank, the New York Observer reported.

The mortgage is for less than half the deductive value of the tower, which is set at approximately $634 million, based on Brookfield’s purchase last year of a 49 percent interest in the building. Bank of America, a tenant at 4 World Financial Center, sold that stake to Brookfield. [more]

Brookfield President Dennis Friedrich, and the firm's recent London acquisitions 125 Old Broad Street and Leadenhall Court

Manhattan real estate’s high prices and shortage of inventory has forced at least one high-profile landlord to invest its money elsewhere. The Wall Street Journal reported that Brookfield Office Properties’ recent buying sprees outside its core market are a direct response to the poor conditions in Manhattan.

“In New York, we’ve looked at everything,” said Brookfield President Dennis Friedrich, who will soon become the firm’s CEO. “There’s not a lot on the market that’s intriguing, and pricing is certainly very weighty.” [more]

From left: Bruce Mosler, Manhattan West rendering and 450 West 33rd Street

In an effort to better integrate its existing West 33rd Street tower with its forthcoming multi-billion-dollar Manhattan West project, Brookfield Office Properties is considering undertaking a massive renovation of the former home of the New York Daily News, according to the New York Observer. The 1.7 million-square-foot tower, at 450 West 33rd Street, is adjacent to the rail yards where Brookfield will begin construction in the coming months on a $300 million deck that will serve as the base of a four-tower development. [more]

From left: Jerry Larkin and the World Financial Center

Brookfield Properties is close to several deals for the under-renovation 200,000-square-foot retail space at the World Financial Center, the New York Observer reported. Jerry Larkin and David Cheikin, two top leasing executives at Brookfield, said that a transaction is close with an Eataly-style food operator who will take 30,000 square feet inside the space for a gourmet market. [more]

Brookfield's Phil Wharton and a rendering of Manhattan West

The Far West Side earned the latest confirmation of its potential as a residential neighborhood when office developer Brookfield Office Properties recently said it was considering adding 900 apartments to its Manhattan West project, according to the New York Post. The area already has thousands of new rental units from developers such as TF Cornerstone, Glenwood Management and the Related Companies, and has thousands more on the way from those developers, the Gotham Organization and Iliad Development. [more]

From left: Bill Thompson, Milstein Properties Chairman Howard Milstein, and Brookfield Chairman John Zuccotti

A pair of deals mayoral candidate Bill Thompson oversaw as chairman of the Battery Park City Authority that aid Lower Manhattan developers has helped line his campaign coffers while stripping the city of much-needed revenue, according to the New York Daily News. Thompson stepped down from the post this month to focus on his mayoral campaign, but in the last year he’s helped overturn scheduled fee increases for Battery Park City condominium owners and secured valuable rent breaks for Brookfield Office Properties’ planned redevelopment of World Financial Center retail. [more]

Brookfield President Dennis Friedrich, Phil Wharton, new director of development, and Manhattan West

Long considered only for its office and retail potential, Brookfield Office Properties’ massive Manhattan West development site could include residential, too. Citing information from an investor call, Bloomberg News reported that the developer may include up to 900 residential units in its 5.4 million-square-foot plan.

“We’ve always highlighted the office density because we’re an office landlord,” said Brookfield Office President Dennis Friedrich said. “But we have the ability to build 900 units on that site. That market has really taken off, and may drive greater value for us, so we took a little bit of time to study that.” [more]

From left: Ric Clark, Dennis Friedrich and Tom Farley

Brookfield Office Properties has shuffled desks in its executive suite. Bloomberg News reported that the owners of World Financial Center and the developer of Manhattan West has promoted CEO Ric Clark to chairman and replaced him with co-President Dennis Friedrich. [more]

Brian Waterman, vice chairman of Newmark Knight Frank, and One New York Plaza

It might be an old city staple that finally shakes the office leasing market out of its nearly year-long slumber.

The New York Post reported that Morgan Stanley has advanced “beyond the term-sheet stage” in negotiations to convert its 800,000 square feet at One New York Plaza, which it currently subleases from Wells Fargo, to a direct lease. What’s more, Morgan Stanley wants to add another 300,000 square feet to its footprint. [more]

A rendering of Manhattan West

Brookfield Office Properties is awaiting only the go-ahead from Amtrak, which operates the train tracks beneath the site slated for its massive Manhattan West project, before it begins construction on a deck to cover the rail yards.

The New York Post reported that while Brookfield officials say they are 95 percent of the way to an agreement with Amtrak executives, Amtrak in turn said the sides still have “some substantive” issues to iron out. The developer had previously said construction would start in January. [more]