August 8, 2017
Brookfield Property Partners reportedly borrowed $784 million from Morgan Stanley to refinance One Liberty Plaza, a 2.2 million-square-foot office tower in Downtown Manhattan.
The new loan replaces a $850 million CMBS loan that Goldman Sachs made 10-years ago and that was set to expire August 8, 2017, according to Trepp. As of the first quarter, 2017, the tower was 84% occupied. However, the empty space at the tower may soon be full. As of this June, Brookfield was close to completing a lease with the New York Economic Development Corp. that would fill 220,000 square feet, according to TreppWire.
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