Meadow pays Aby Rosen $288M for West Village office building

220K sf property is home to Paypal, Venmo

Aby Rosen and Meadow Partners' Jeffrey Kaplan with 95 Morton Street (Christopher Peterson CC BY 3.0 via Wikimedia Commons, Meadow Partners, RFR Realty)
Aby Rosen and Meadow Partners' Jeffrey Kaplan with 95 Morton Street (Christopher Peterson CC BY 3.0 via Wikimedia Commons, Meadow Partners, RFR Realty)

Aby Rosen’s RFR Holding parted with a West Village office building for $288 million, property records show.

Meadow Partners scooped up the 220,000-square-foot building at 95 Morton Street, helped by a $155 million loan from Deutsche Pfandbriefbank, which includes a new $60 million mortgage. Wells Fargo was the prior lender. The sale closed June 28.

Rosen put the price of the deal at $1,400 per square foot, somewhat higher than what public records reflect, but declined to elaborate. Office buildings’ square footage can be calculated in a variety of ways.

Tenants in the eight-story building, located in what Rosen described as “the best submarket in the city,” include digital payment providers Paypal and Venmo, design agency VSA Partners and Integral Ad Science.

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RFR bought the building in 2017 — the same year it was renovated — from Brickman Associates for $206 million. The address is also known as 617 Washington Street.

Meadow Partners was recently on the other side of the closing table, having sold 109 South Fifth Street, a 63,000-square-foot office building in Williamsburg, for $46 million. Heitman Capital was the buyer.

Meadow Partners did not immediately return a request for comment. Brokerage Walker & Dunlop arranged financing for Meadow’s acquisition of 95 Morton Street.

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SL Green Realty has also been a lender on 95 Morton Street. In 2020 the real estate investment trust looked to sell its $25 million junior mezzanine position, which had an interest rate of 7.6 percent, to shore up its balance sheet.