Hudson Yards Sees $1.25 Billion Refi at 450 West 33rd
Brookfield Properties has secured a $1.25 billion refinancing package for its commercial condo units at 450 West 33rd Street, encompassing 1.28 million square feet of office space and 157,104 square feet of retail. The loan, issued by Citibank, replaces $1.125 billion from Landesbank Baden-Wurttemberg and $156 million from Citibank. The deal closed March 28 and was recorded April 15. PincusCo pegs the loan price per built square foot at $869.
Times Square Retail Scores $450 Million Loan
A standout Times Square property at 1535 Broadway—home to 107,000 square feet of full-block LED retail—has locked in a $450 million CMBS loan. The financing was arranged through Bank of America, Bank of Montreal, and Goldman Sachs. Steven Roth of Vornado Realty Trust and Chris Mitchell of Crown Acquisitions are listed as landlords.
$60M Lawsuit Hits Moinian Group Over Alleged Illegal Eviction
Tenant Justin Collins has filed a $60 million lawsuit against the Moinian Group, alleging illegal eviction from his $3,500/month apartment at 1264 Lexington Avenue. Collins claims he was pushed out due to hazardous living conditions, including a carbon monoxide leak, and that his belongings remained while the unit was re-rented. The suit also points to improper occupancy certificates and contends the apartment should be rent-stabilized.
Christian Candy Buys $46.9M Penthouse at 111 West 57th Street
British developer Christian Candy and his wife Emily Crompton-Candy have acquired a 7,250-square-foot Billionaires’ Row penthouse for $46.9 million—significantly less than its $66 million list price in 2020. Their former Upper East Side townhouse, purchased for $48 million in 2022, is now listed for $70 million. The deal adds momentum to 111 West 57th’s revived sales effort under Sotheby’s Nikki Field, who reports over $285 million in new activity.
Dalan and Marcus Sell Midtown South Office Buildings at a Loss
Dalan Management and Marcus Partners have sold 10 and 12 East 33rd Street for $27.5 million—half of the $54.5 million Marcus paid in 2018. The new buyer, Han 533, is tied to an address in Old Tappan, N.J. The properties house various office and retail tenants including a Korean BBQ and a dry cleaner.
Nahman Lichtenstein Buys Midtown East Specialty Building for $7.9M
Macklowe Properties has sold 17 East 47th Street to Nahman Lichtenstein for $7.9 million. The specialty-use building spans 17,131 square feet, translating to $461 per square foot. Macklowe acquired the site for $16.5 million in 2018.
Realya Buys Greenwich Village Portfolio with $13.5M Loan
Israel-based Realya has purchased five properties—including mixed-use and retail buildings along Sixth Avenue—for $24.25 million from Walter & Samuels. The acquisition is backed by a $13.5 million loan from Lincoln Life & Annuity. The portfolio includes 23,757 square feet of built space and over 16,000 square feet of air rights.
RXR Adds 100,000 Sq Ft of Amenities to Starrett-Lehigh
RXR is transforming the iconic Starrett-Lehigh Building in Chelsea into a modern workplace campus. The building’s truck bays are being repurposed into lounges, and the 15th floor now includes shuffleboard, gaming spaces, and a full bar. “Level 10,” opening this spring, will bring a 45,000-square-foot event space, podcast studios, a rooftop restaurant, and cabana-style seating with sweeping Hudson River views.