Two Trees just nabbed a $100M loan for the home of Vice Media in Dumbo

Wells Fargo refi includes new $54M mortgage

TRD New York /
Sep.September 13, 2017 05:02 PM

Two Trees Management’s Jed Walentas and 55 Washington Street in Dumbo (Credit: Michael McWeeney and Two Trees)

Two Trees Management is refinancing its office building at 55 Washington Streethome of Vice Media — to the tune of $100 million.

The loan, which comes from Wells Fargo, includes a $54 million mortgage and consolidates prior debt on the property from HSBC Bank.

The building is 448,300 square feet overall, and tenants in addition to Vice include Equinox Fitness and Flocabulary. Vice occupies about 74,000 square feet of the building, while the Equinox Fitness gym occupies 22,000 square feet. Flocabulary, which uses music to teach math and history, takes up 9,340 square feet.

Much of the recent real estate activity in Dumbo has centered on Jehovah’s Witnesses selling off its vast holdings in the neighborhood. Aby Rosen recently paid $135 million for the church’s former hotel at 90 Sands Street, and Kushner Companies, CIM Group and LIVWRK are planning a 21-story residential building at the church’s former site at 85 Jay Street.


Related Articles

arrow_forward_ios
With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)

Real estate stocks push up this week as U.S.-China trade tensions ease

416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case

Paul Volcker (Credit: Getty Images)

Paul Volcker, Fed Chair who infuriated real estate, dies

Renderings of The William Vale and Denizen Bushwick with a Tel Aviv Stock Exchange ticker

All Year eyes sale of William Vale to pay off bonds

Redwood Trust’s CEO Christopher J. Abate (Credit: iStock)

Wall Street is collecting rent payments

From left: 1407 Broadway, 805 Third Avenue and 195 Broadway (Credit: Google Maps)

These were the 10 largest Manhattan real estate loans in November

Breather CEO Bryan Murphy (Credit: LinkedIn and iStock)

Breather bloodbath: Flex-office startup fires 17% of staff

The Tel Aviv Stock Exchange (Credit: Getty Images)

All Year’s Israeli bonds tumble on $41M loss

arrow_forward_ios