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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...