July 10, 2020
PGIM Real Estate arranged a $100-million, 15-year financing for 52 Broadway, a Lower Manhattan office property owned by a joint venture of Jack Resnick & Sons and the Ruben Companies. Ownership was represented by The Singer & Bassuk Organization (SBO), its longtime mortgage broker.
The financing represents the third SBO has undertaken for the JV. The first, in 2002, “was one of the first major closings in FiDi after 9/11, and the subsequent loan in 2010 was one of the first new CMBS loans coming out of the Great Recession,” said SBO chairman Andrew J. Singer.
“52 Broadway has long been an important part of our Downtown office portfolio, and this refinancing during these immensely challenging times is a testament to the quality of this asset, the strength of our anchor tenant, and the skill and dedication of PGIM Real Estate and Singer & Bassuk,” said Resnick president Jonathan Resnick.
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