Citigroup | The Real Deal New York

The Real Deal New York

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Citigroup

Citigroup is a major bank, with total revenue in 2013 of $76.36 billion and total assets of $1.88 trillion. It is one of the worlds largest financial services firm and the nations third-largest bank in terms of assets.

Given its size, Citigroup is a major lender for commercial real estate transactions in New York City as well as a big source of residential mortgages. Citigroup, for instance, is one of the regular lending sources for SL Green Realty, the citys biggest commercial landlord. It also deals heavily in commercial mortgage-backed securities, and was the top equity underwriter for real estate investment trusts in 2013. Its ATMs and branches dot the cityscape.

Citigroup, which is headquartered at 399 Park Avenue, is led by Chairman Michael ONeill and CEO Michael Corbat. The bank dates from 1812, though the current iteration was forged from a 1998 merger between Citicorp and Travelers Group. Citigroup is the parent corporation to Citibank.


02/14/19
...until it built its own new building nearby. Citigroup had previously planned to move out of 1 million of its 1.4 million square feet at...

02/08/19
...several companies -- Wells Fargo; a unit of Citigroup; Capital One; HSBC Life Insurance; and others. The loans were acquired by investment management...

02/05/19
...about two years ago, subleasing three floors from Citigroup. Citigroup’s plans to vacate its 1 million square feet in the 1.5 million square foot...

01/24/19
...as 2008, came from major financial institutions such as Citigroup, HSBC, Wells Fargo, and CapitalOne, as well as the Department of Housing and Urban...

01/18/19
...borrowers directly, big banks — including Wells Fargo and Citigroup —  reportedly provide private mortgage shops with short-term warehouse lines of credit. Those nonbank lenders...

01/17/19
...data Alex Veksler, who noted the absence of Citigroup, Goldman Sachs and Morgan Stanley from the top 10 lenders. Two new lenders on CrediFi...

01/16/19
...development on Roosevelt Island. Various government agencies and Citigroup...

01/11/19
...East 125th Street in East Harlem come from Citigroup, the Department of Housing Preservation and Development and the New York City Housing Development...

...data Alex Veksler, who noted the absence of Citigroup, Goldman Sachs and Morgan Stanley from the top 10 lenders. Two new lenders on CrediFi...

12/25/18
...in both the black and the red. Former Citigroup Chairman Sandy Weill was one of those who made out like a bandit. He...

11/20/18
...letter of intent to lease 1 million square feet. Citigroup plans to vacate its space in...

11/15/18
...from a group of banks including ING and Citigroup. Brookfield leased the tower from Kushner Companies for 99 years in August and secured an...

11/14/18
...Smith Incorporated, Morgan Stanley, BNY Mellon Capital Markets, Citigroup Global Markets Inc., Jefferies LLC, Scotia Capital (USA) Inc., SunTrust Robinson Humphrey, Inc., TD...

11/13/18
...widely seen as a prime fit based on Citigroup’s plans to vacate 1 million square feet in the building come 2020 when its lease...

11/08/18
...the neighborhood’s Class A glass office towers. Citigroup is set to vacate 1 million square feet in the tower at One Court Square...

11/07/18
...round led by Atami Capital. Its backers include Citigroup executive Dan Keegan, former Trulia president Paul Levine and Global Switch CEO John Corcoran...

11/07/18
...requirement at Savanna’s One Court Square, where Citigroup is set to vacate 1 million square feet in the tower when its lease expires...

11/04/18
...led by Atami Capital. Other notable investors included Citigroup executive Dan Keegan, former Trulia president Paul Levine and Global Switch CEO John Corcoran...

10/29/18
...and Henry Yeung. Xu bought the site from Citigroup in July 2015 from $143 million. – Rich Bockmann...

10/14/18
...in high-risk loans. Together, BoA, Wells Fargo and Citigroup have loaned $345 billion to such lenders. -- Erin Hudson...

10/11/18
...by The Real Deal last year found. Former Citigroup chairman Sandy Weill pocketed $44.3 million after selling his penthouse at 15 Central Park West for...

...by The Real Deal last year found. Former Citigroup chairman Sandy Weill pocketed $44.3 million after selling his penthouse at 15 Central Park West for...

09/17/18
...from the previous three-month period. Meanwhile, competitors like Citigroup and JPMorgan Chase gave rosy lending forecasts. – Rich Bockmann...

07/24/18
...in Long Island City (Credit: One Court Square) Citigroup is planning to shrink its space at Savanna's One Court Square — opening up 1 million...

07/17/18
...in March it landed a $200 million mortgage from Citigroup. And with the exception of Deutsche Bank — which Charlie Kushner said temporarily stopped issuing...
  • Event Financing
  • Address 460 Main Street
  • Neighborhood Roosevelt Island
  • Borough Manhattan
  • Price $ 123,000,000
  • Publication Date 01/18/2019
  • Event Date 01/16/2019
  • Party 1 Hudson Companies, Related Companies
  • Party 2 Department of Housing Preservation and Development, New York City Housing Development Corporation, New York State HCR, Citigroup
notes
The owner secured a construction loan of $123 million for the Roosevelt Island property.
  • Event Financing
  • Address 201 East 125th Street
  • Neighborhood East Harlem
  • Borough Manhattan
  • Price $ 188,500,000
  • Publication Date 01/11/2019
  • Event Date 01/14/2019
  • Party 1 Richman Group
  • Party 2 New York City Housing Development Corporation, Department of Housing Preservation and Development, Citigroup
notes
The lender issued a loan of $188.5 million for the East Harlem property.
  • Event Financing
  • Address 16 Court Street
  • Neighborhood Downtown Brooklyn
  • Borough Brooklyn
  • Square feet 317,600
  • Price $ 110,000,000
  • Publication Date 11/01/2017
  • Event Date 10/12/2017
  • Party 1 CIM Group
  • Party 1 Brokerage CBRE
  • Party 1 Broker James Millon, Tom Traynor
  • Party 2 Barclays; Citigroup
notes
The urban real estate and infrastructure fund manager secured a loan for $110 million.
  • Event Financing
  • Address 731 Lexington Avenue
  • Neighborhood Sutton Place
  • Borough Manhattan
  • Square feet 1,402,032
  • Price $ 500,000,000
  • Publication Date 09/01/2017
  • Event Date 07/18/2017
  • Party 1 Vornado Realty Trust
  • Party 2 Citigroup; Deutsche Bank
notes
The firm received a loan.
  • Event Financing
  • Address 767 Fifth Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 1,824,820
  • Price $ 2,300,000,000
  • Price per foot $ 1,260.00
  • Publication Date 07/01/2017
  • Event Date 06/07/2017
  • Party 1 Boston Properties
  • Party 2 Morgan Stanley, Citigroup Global, Deutsche Bank, Wells Fargo
notes
The investor secured $2.3 billion in refinances from four different financial institutions.
  • Event Financing
  • Address 50 Broadway
  • Neighborhood Financial District
  • Borough Manhattan
  • Square feet 353,000
  • Price $ 62,000,000
notes
The entity secured a $62 million loan with a 10-year fixed rate for its office building in Lower Manhattan
  • Event Financing
  • Address 111 Livingston Street
  • Neighborhood Brooklyn Heights
  • Borough Brooklyn
  • Square feet 459,100
  • Price $ 120,000,000
notes
The company refinanced the office property's old CMBS loan for $120 million.
  • Event Financing
  • Address 681 Fifth Avenue
  • Neighborhood Central Midtown
  • Borough Manhattan
  • Square feet 82,573
  • Price $ 215,000,000
  • Publication Date 01/01/2017
  • Event Date 11/17/2016
  • Party 1 UBS, Citigroup
  • Party 2 Metropole Realty Advisors
notes
The company secured a $215 million refinance CMBS loan.
  • Event Financing
  • Address 8 Times Square
  • Neighborhood Times Square
  • Borough Manhattan
  • Square feet 215,000
  • Price $ 200,000,000
notes
The company secured a $200 million loan for the office building.
  • Event Sales
  • Address 388-390 Greenwich Street
  • Neighborhood Tribeca
  • Borough Manhattan
  • Square feet 2,350,000
  • Price $ 1,760,000,000
  • Price per foot $ 748.94
notes
The office building sold for $1.76 billion.
  • Event Financing
  • Address 5 Penn Plaza
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Price $ 300,000,000
notes
A $300 million commercial mortgage-backed securities loan was provided to the office building.
  • Event Sales
  • Address 333 West 34th Street
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 347,000
  • Price $ 220,300,000
  • Price per foot $ 634.87
notes
The property sold for $220.3 million. The building is 100 percent leased to four tenants: the Segal Company, the Metropolitan Transportation Authority, Godiva Chocolatier and Sam Ash New York Megastores.
  • Event Financing
  • Address 420 Park Avenue South
  • Neighborhood NoMad
  • Borough Manhattan
  • Price $ 140,000,000
  • Publication Date 08/01/2012
  • Event Date 06/22/2012
  • Party 1 Brokerage Deerwood Real Estate Capital
  • Party 1 Broker Abe Katz, Mark Silbersher, Russell Kimyagarov
  • Party 2 Citigroup, Redwood Trust
notes
A total of $160 million in loans were provided to refinance the Gansevoort Park Hotel, GlobeSt.com reported. Citigroup refinanced the first mortgage for $140 million, and Redwood refinanced the mezzanine debt in the amount of $20 million. 20-story hotel, 249 rooms total
  • Event Sales
  • Address 45 West 139th Street
  • Neighborhood Central Harlem
  • Borough Manhattan
  • Price $ 210,000,000
notes
The Savoy Park apartment complex sold for $210 million, Bloomberg News reported. The rent-regulated apartments will remain as affordable housing. AREA Property Partners and Vantage Properties acquired the properties for $175 million in 2006.
  • Event Office Leasing
  • Address 601 Lexington Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 500,000
notes
The bank signed a lease renewal, the Commercial Observer reported. The company will consolidate seven of its Midtown offices into the building.
  • Event Financing
  • Address 430 West 14th Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 61,000
notes
A $55 million financing package was arranged for the acquisition of the building. 5-story office building.
  • Event Office Leasing
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 30,000
notes
The bank renewed its lease for a private-banking floor.
  • Event Office Leasing
  • Address 399 Park Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 62,000
  • Publication Date 05/01/2008
  • Event Date 03/22/2008
  • Party 1 Citigroup
  • Party 1 Brokerage Newmark Grubb Knight Frank
  • Party 2 Eton Park Capital Management
  • Party 2 Brokerage Newmark Grubb Knight Frank
notes
The hedge fund signed a long-term sublease for the entire 10th floor. The firm is relocating from 825 Third Avenue.
  • Event Office Leasing
  • Address 399 Park Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 62,000
  • Publication Date 05/01/2008
  • Event Date 03/22/2008
  • Party 1 Citigroup
  • Party 1 Brokerage Newmark Grubb Knight Frank
  • Party 2 Eton Park Capital Management
  • Party 2 Brokerage Newmark Grubb Knight Frank
notes
The hedge fund signed a long-term sublease for the entire 10th floor. The firm is relocating from 825 Third Avenue.
  • Event Sales
  • Address 250 West Street
  • Neighborhood Tribeca
  • Borough Manhattan
  • Square feet 300,000
  • Price $ 201,000,000
  • Price per foot $ 670.00
notes
The property sold for $201 million. The Russian developer, led by Vassily Anisimov, could convert the building to residential use. Elad paid $142 million to Citigroup for the property in June 2006.
  • Event Sales
  • Building Name 388-390 Greenwich Street
  • Address 390 Greenwich Street
  • Neighborhood Tribeca
  • Borough Manhattan
  • Square feet 2,600,000
  • Price $ 1,575,000,000
  • Price per foot $ 605.77
notes
The two towers sold for $1.575 billion, or $598 per square foot. SL Green will retain a 52.5 percent stake in the downtown complex. Citigroup will lease back the building and cover the costs of operating and maintaining it for 13 years.
  • Event Sales
  • Address 250 West Street
  • Neighborhood Tribeca
  • Borough Manhattan
  • Square feet 371,000
  • Price $ 142,000,000
  • Price per foot $ 382.75
notes
The building is under contract for $142 million and the transaction is expected to conclude this summer. The property, which was built in 1910, will likely be leased back to Citigroup for two years as Elad draws up plans to convert the property into high-end residential condominiums.
  • Event Office Leasing
  • Address 350 Park Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 31,000
notes
Expanding upon the lease they signed for 126,000 last March. Tenant is moving from the Citigroup Center at 153 East 53rd Street.
  • Event Office Leasing
  • Building Name GM Building
  • Address 767 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 10,000
  • Publication Date 01/01/2006
  • Event Date 11/22/2005
  • Party 2 Sandy Weill
notes
Citigroup chairman takes space, possibly for a private firm he might launch after he retires from the company in April 2006.
  • Event Office Leasing
  • Address 787 Seventh Avenue
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 250,000
  • Publication Date 11/01/2005
  • Event Date 09/22/2005
  • Party 1 AXA Equitable Life Insurance Company
  • Party 1 Brokerage CBRE
  • Party 2 Citigroup
  • Party 2 Brokerage Cushman & Wakefield
notes
Citigroup's space includes a famous ballroom on the 50th floor. The 500,000-square-foot deal at 485 Lexington Avenue is still awaiting approval by the bank's board.
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12/29/16
...almost fully occupied. 2. 388-390 Greenwich Street, $1.8 billion Buyer: Citigroup Seller: SL Green Realty Brokerage: N/A If 388-390 Greenwich Street seems familiar, it...

09/22/16
...City. The department will sublease two floors from Citigroup, the company that occupies the majority of the tower’s space. Cushman & Wakefield's...

...the market for new space include JPMorgan Chase, Citigroup and Morgan Stanley. As of the first quarter of 2016, each of those companies occupied...

01/26/16
...space is just ahead of another financial titan, Citigroup, which takes up 4.49 million square feet. But the biggest holder of New York office...

With a handful of record sales in the past year, there’s no question Manhattan real estate has entered a new stratosphere. But even as asking...

Last year’s residential market got most of its buzz from developers racing to build luxury condos, but it was eye-popping co-op sales that shattered records...

...the list for selling a 49.4 percent stake in Citigroup’s headquarters at 388-390 Greenwich Street in Tribeca to SL Green for nearly $800 million...

...the planned sale of One Court Square, the Citigroup building. Savanna, a real estate private equity firm, reached an agreement to buy a...

...with a series of massive leases signed. First, Citigroup opted to stay at its 2.7 million-square-foot offices at SL Green’s 388-390 Greenwich Street...

...tenants inked deals in Midtown last month, including Citigroup, which renewed 500,000 square feet at Boston Properties’ 601 Lexington Avenue. But even that deal did...

...comment. Priciest residential sale The sale of former Citigroup chairman Sandy Weill’s 15 Central Park West penthouse may be the most expensive residential...

...Holdings filed for bankruptcy, financial institutions like MetLife, Citigroup and Bank of America dumped more than 1 million square feet of this so-called sublease...

...month, the availability rate dropped by .3 points because Citigroup pulled 233,000 square feet of space off the market at 111 Wall Street...

...CUNY bought six floors — 260,000 square feet — of a Citigroup...

...who sold Penthouse 20 at 15 Central Park West to Citigroup chairman emeritus Sanford Weill for $42.4 million. The Weill purchase was the sixth highest-priced sale...

...was said to be negotiating to buy the Citigroup tower at 388 Greenwich Street for $1.6 billion, which would be the fourth-biggest building sale in...

...floors vacated by O'Melveny & Meyers in midtown's Citigroup Center in April. The deal also saved the incoming tenants, a law firm and...