April 25, 2017 Comments Off on $40M Interest-Only Loan for 161 William St. Views: 376 Downtown New York, New York News

$40M Interest-Only Loan for 161 William St.

April 26, 2017

Jack Resnick & Sons and the Ruben Companies received a $40 million loan from Capital One to refinance their property at 161 William St. in Lower Manhattan.

“The property is well-located in lower Manhattan and has a long-term anchor tenant, Pace University,” said Jonathan Smith, vice president for Capital One. The flexible rate loan has five years of interest-only payments.

The owners have continually been modernizing the tower, after buying the 22-story, 201,222-square-foot building in 1978. Pace has steadily expanded its footprint in the building since it signed its first lease in 2001, and currently occupies more than 83 percent of the total square footage.

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