The Real Deal New York

JEMB snags $250M CMBS refi of 75 Broad

Natixis provided the loan for the 34-story FiDi office tower
April 11, 2017 03:30PM

75 Broad Street with JEMB’s Louis Jerome and Morris Jerome

JEMB Realty secured a $250 million refinancing of 75 Broad Street in the Financial District, the Commercial Observer reported Tuesday.

The loan comes a few months after the developer began searching for a partner to take a 50 percent stake in the 34-story office building.

Natixis Real Estate Capital’s loan comes in the form of a commercial mortgage-backed security.

“This is a great opportunity to be part of the dynamic growth and business expansion occurring in Downtown Manhattan with a premier borrower like JEMB Realty on a market leading building like 75 Broad,” Natixis Real Estate Finance America’s Greg Murphy told the Commercial Observer.

Cushman & Wakefield brokered the deal.

JEMB bought the property in 1999, records show. In January, the law firm Leav & Steinberg inked a 9,210-square-foot lease in the building, joining Toll Brothers City Living, ITT and the New York City Opera as tenants. [CO] – Ben St. Clair