The Real Deal New York

Brookfield lands $1.15B refi for 5 Manhattan West

German bank LBBW is the lender
April 13, 2018 06:50PM

 

Manhattan West

Brookfield Property Partners refinanced its office building 5 Manhattan West with a $1.15 billion loan from Landesbank Baden-Wurttemberg.

The new mortgage from the German state bank replaces a $570 million loan from Wells Fargo, according to property records cited by the Commercial Observer.

Brookfield recently completed a $350 million redevelopment of the 2.2 million-square-foot building, which sits at 10th Avenue between 31st and 33rd streets on the western edge of the Manhattan West megadevelopment.

The biggest tenants are JPMorgan Chase, which occupies 425,000 square feet, and Amazon, which recently inked a 360,000-square-foot lease. [CO] — Konrad Putzier