NYU secures $600M in taxable bonds for Kips Bay medical center

Bank of New York Mellon holds the bonds

New York /
May.May 31, 2017 04:22 PM

New York University Langone Medical Center locked down $600 million in taxable bonds for its new medical center in Kips Bay, according to property records filed with the city Wednesday.

Bank of New York Mellon is the trustee for the 2017A series bonds, secured by the property at 433 East 30th Street, the documents show. The securities are divided into amounts of $62.25 million and $537.75 million, according to the summary of offering.

Last year, the bank replaced state revenue bonds on three of the NYU Langone Medical Center’s properties. It replaced an original $217 million in 2006A bonds with $157.3 million in Series 2016A bonds, the Commercial Observer reported at the time. The bank had also previously replaced $77 million in Series 2007B bonds on the properties with Series 2014 bonds.

NYU is planning a new 10-story research center — which will include a 365,000-square-foot laboratory, according to reports — at 433 East 30th Street. That new facility will be close to the Helen L. and Martin S. Kimmel Pavilion at Tisch Hospital, which is under construction. The pavilion will be an 830,000-square-foot in-patient center and is set to open in 2018, NYU announced last year.

Representatives for NYU and Bank of New York Mellon were not immediately available for comment.


Related Articles

arrow_forward_ios
Equity Group Investments chairman Sam Zell (Getty, iStock)
Office market’s recovery will outpace retail amid “viability” questions, Zell says
Office market’s recovery will outpace retail amid “viability” questions, Zell says
(iStock)
CRE sales hit record $809B in 2021
CRE sales hit record $809B in 2021
Steven Pozycki, chief executive officer, SJP Properties, in front of 111 River Street in Hoboken, NJ (SJP Properties, LoopNet, iStock)
SJP, David Werner buy waterfront Hoboken office, retail property
SJP, David Werner buy waterfront Hoboken office, retail property
SUNY WCC President Belinda Miles and the Cross County Center in Yonkers (Great Ink Communications/Marx Realty)
College leases 40K sf at ex-Sears in Yonkers
College leases 40K sf at ex-Sears in Yonkers
Meridian Capital’s Ralph Herzka with 165 Central Avenue, 198 Scholes Street, 11 Gunther Place in Brooklyn (Getty, Google Maps, Apartments)
Meridian Capital could get exclusive on All Year’s $1B portfolio
Meridian Capital could get exclusive on All Year’s $1B portfolio
Southampton Town supervisor Jay Schneiderman (jayschneiderman.com, Google Maps)
Southampton Town considers buying 40 acres
Southampton Town considers buying 40 acres
Alan Feldman, chief executive officer, president & chairman of the board, Resource REIT; Stephen Schwarzman, chairman, ceo & co-founder, Blackstone (Resource REIT, Getty Images, 1000 Spalding Apartment Homes)
Blackstone to pay $3.7B for REIT in latest rental push
Blackstone to pay $3.7B for REIT in latest rental push
360 Kingsland Avenue in Greenpoint, Brooklyn (Google)
Sitex Group pays $30M for Greenpoint industrial property
Sitex Group pays $30M for Greenpoint industrial property
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...