The Real Deal New York

Goldman to take lead on $1.2B refi of
One Worldwide Plaza

Midtown trophy tower, now in contract, is valued at $1.7B
September 28, 2017 03:00PM

CEO of Goldman Sachs Lloyd Blankfein and 1 Worldwide Plaza

Goldman Sachs will take the lead on a $1.2 billion refinancing of One Worldwide Plaza.

Goldman, along with a consortium of lenders that includes Deutsche Bank, plans to securitize the loan into a single-asset CMBS deal later this year, the Commercial Observer reported.

The 2.1 million-square-foot tower is valued at $1.7 billion after RXR Realty and SL Green Realty signed a contract to buy a 48.7 percent stake in the tower from New York REIT earlier this month. That deal is expected to close on or before Nov. 1.

New York REIT CEO Wendy Silverstein said on an investor call earlier this month that the 10-year, interest-only loan will have a “sub 4 percent” rate, but did not identify the lender.

The building’s 1.8 million square feet of office space is 100 percent leased to tenants such as Nomura Holdings; Cravath, Swaine and Moore; WebMD; Rubenstein Public Relations; and CBS Broadcasting.

Deutsche Bank in 2013 provided a $710 million mortgage on the property. [CO]Rich Bockmann