April 18, 2017
New York-based RFR Realty acquired 95 Morton Street in New York’s West Village from Brickman Associates for a reported $206 million. The eight-story, 215,000-square-foot office building is located between Washington and Greenwich Streets.
A $95-million loan was provided by Citigroup for the acquisition. The loan will consolidate $58.5 million in existing debt with a $36.5 million gap mortgage. Debt was split into a $60-million A-1 note and a $35-million A-2 note.
The asset had been acquired by Brickman in 2008 for $96.5 million from Lincoln Property Co.’s Chicago-based LPC Midwest.
Built in 1911, the building was renovated in 2000. Included among tenants at the property are PayPal and VSA Partners.
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