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.
For comments, questions or concerns, please contact Dennis Kaiser