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    70 Pine Street

    70 Pine Street
    New York, NY 10005
    212-706-3030
    Office, Ground Lease

    175 Pearl Street is a 191,688 square foot building in the Dumbo neighborhood of Manhattan. The building is owned by Kushner Companies|RFR Holding|LIVWRK. The building was completed in October of 2015.

    • Address 70 Pine Street
    • neighborhood Financial District
    • borough Manhattan
    • owner METRO LOFT MANAGEMENT
    • developer METRO LOFT MANAGEMENT
    • owner entity EBNB 70 PINE OWNER LLC
    • architect The Stephen B Jacobs Group
    • PLANS DISCLOSED 12/14/2011
    • dob permit issued 07/01/2013
    • tco issued 10/26/2015
    • DOB FILE PLANS 12/14/2011
    • DOB FILE Link
    • height in feet 725
    • floors 66
    • residential units 895
    • square feet 931,126
    • const. status BUILDING COMPLETE
    • block and lot 1-00041-0001
    • BIN 1001007
    • Event Financing
    • Address 70 Pine Street
    • Neighborhood Financial District
    • Borough Manhattan
    • Square feet 1,000,000
    • Price $ 375,000,000
    notes
    The borrower secured a $375 million refi loan from a syndicate of lenders.
    • Event Retail Leasing
    • Address 70 Pine Street
    • Neighborhood Lower Manhattan
    • Borough Manhattan
    • Square feet 1,554
    notes
    The coffee shop signed a 10-year lease.
    • Event Retail leasing
    • Address 70 Pine Street
    • Neighborhood Financial District
    • Borough Manhattan
    • Publication Date 07/01/2015
    • Event Date 05/22/2015
    • Party 1 Rose Associates
    • Party 2 Spotted Pig
    • Event Financing
    • Address 70 Pine Street
    • Neighborhood Financial District
    • Borough Manhattan
    notes
    A $300 million construction loan was provided for the conversion of the property into luxury apartments, the New York Post reported. The project is expected to be complete by 2016. 66-story office building.
    • Event Sales
    • Address 70 Pine Street
    • Neighborhood Financial District
    • Borough Manhattan
    • Price $ 205,000,000
    notes
    The property sold for $205 million. According to Real Estate Weekly, the building will be transformed into 700 luxury apartments and a high-end hotel, with the conversion slated to be completed in 2013.
    • Event Sales
    • Building Name 70 Pine Street and 72 Wall Street
    • Address 72 Wall Street
    • Neighborhood Financial District
    • Borough Manhattan
    • Square feet 1,400,000
    • Price $ 140,000,000
    • Price per foot $ 100.00
    • Publication Date 07/01/2009
    • Event Date 05/22/2009
    • Party 1 American International Group
    • Party 1 Brokerage CBRE
    • Party 1 Broker Darcy Stacom, William Shanahan
    • Party 2 Young Woo & Associates, Kumho Investment Bank
    notes
    The partnership reportedly submitted the winning bid for the properties, amounting to approximately $140 million, or $100 per square foot. The buyers have a mixed-use proposal for the buildings, which are connected by a skyway.
    • Event Sales
    • Address 70 Pine Street 72 Wall Street
    • Neighborhood Financial District
    • Borough Manhattan
    • Price $ 140,000,000
    • Publication Date 07/01/2009
    • Event Date 05/17/2009
    • Party 1 American International Group
    • Party 1 Brokerage CBRE
    • Party 1 Broker Darcy Stacom, Bill Shanahan
    • Party 2 Youngwoo & Associates, Kumho Investment Bank

    04/01/2017
    Rose Associates, the lead developer on the conversion of 70 Pine Street from an office building to luxury condos, racked up $24 million in liens on the landmarked tower in the five-year span, the PropertyShark data shows...

    11/01/2014
    A spokesman for Rose said it came down to “pipeline and timing,” and pointed out the company is set to launch the 612-unit rental conversion of 70 Pine Street next year...

    03/14/2014
    One of the largest deals arranged by Ackman-Ziff, led by Simon Ziff, was a $275 million loan for the leasehold financing of the Milford Hotel, at 700 Eighth Avenue between 44th and 45th streets. One of HFF’s big deals was a $110 million loan on LCOR’s 25 Broad Street, while a large deal for Singer & Bassuk was a $300 million loan on Rose Associates’ 70 Pine Street in Lower Manhattan...

    09/30/2011
    The availability rate fell by 1.5 points to 10.5 percent in the third quarter, in part because a large block of 586,622 square feet at 70 Pine Street was taken off the market, with the expectation that it will be converted to condominiums...

    11/30/2009
    Still, there are a few deals today that stand out as relative bargains even without a rearview mirror, including developer Youngwoo & Associates’ purchase of AIG’s two buildings -- 70 Pine Street and 72 Wall Street -- for $150 million, or $105 a foot; and George Comfort & Sons’ buy of Worldwide Plaza, which closed for $590 million last summer, after last selling for $1.8 billion in 2007...
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