Northwood lands $150M loan to refinance FiDi office tower

Metropolitan Life Insurance Company is the lender at 100 Broadway

Sep.September 22, 2017 10:25 AM

John Kukral and 100 Broadway (Credit: Northwood)

Northwood Investors refinanced its Financial District office tower 100 Broadway with a $150 million loan from the Metropolitan Life Insurance Company.

The new mortgage replaces a $130 million loan from Canadian Imperial Bank of Commerce, Real Estate Weekly reported.

Northwood, founded by Blackstone veteran John Kukral, bought the 380,000-square-foot, 24-story tower for $150 million in 2013 from Madison Capital and Meadow Partners. Tenants include IA Interior Architects, Tommy John and MM.LaFleur.

Northwood sold the Palace Hotel in 2015 to South Korean firm Lotte Group for $805 million. It purchased the hotel for $400 million in 2011 and spent about $160 million renovating the property. [REW]Konrad Putzier

Related Articles

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

Greystar CEO Bob Faith and the Parkside Place Apartments in Cary, North Carolina (Credit: Greystar and Apartments)

What Greystar’s belief in multifamily says about the health of the economy

Brookfield Asset Management CEO Bruce Flatt

“We underwrite every investment like we’re going to hit a recession”: Brookfield CEO

Clockwise from left: 273 Church Street, 100 Livingston Street, 1135 Boynton Avenue and 1600 Kings Highway with Jeff Sutton (Credit: Google Maps)

Jeff Sutton deal in Brooklyn leads mid-market investment sales

Rupert Murdoch and David Doctorow (Credit: Getty Images, iStock)

News Corp. looks to Opcity lead-generation to boost real estate services biz

Clockwise from the bottom left: The Eugene (435 West 31st Street), the Hudson Yards observation deck condominium and 555 Tenth Avenue (Credit: Google Maps)

West Side story: Manhattan’s largest January real estate loans

Selina Hotel at 516- 518 West 27th Street and Adam Neumann (Credit: Google Maps, Getty Images)

Lender moves to foreclose on site of NYC hotel linked to Adam Neumann, Mexican magnate