Home News Silverstein, Metro Loft Buy 55 Broad Street for $180M

Silverstein, Metro Loft Buy 55 Broad Street for $180M

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From left: Metro Loft Management founder Nathan Berman, Silverstein Properties Chairman Larry Silverstein, and 55 Broad Street (Metro Loft, Silverstein Properties, LoopNet).

Rudin Management handed over a financial district building nearly 60 years later and sold a 30-story office property to two developers.

Silverstein Properties and Metroloft Management have worked together to buy 55 Broad Street for about $ 180 million, commercial observers reported. The landlord has a contract, but the deadline is unknown.

The Rudins developed a 425,000-square-foot site in 1967 with the aim of becoming the headquarters of Goldman Sachs, who left in 1983. In 2019, Rudin completed a refurbishment, including a new lobby.

In 2016, Rudin refinanced the property from State Farm with a $ 60 million loan.

Building tenants include French engineering companies Systra and Curtis + Ginsberg Architects. 2020 Charter School Network Uncommon Schools Sign the contract A 15-year lease will cost 42,000 square feet. The rent for space was $ 48 per square foot.

The Eastdil Secured team, including Gary Phillips and Steve Binswanger, advised Rudin on the sale.

The sale will take place months after John Gilbert, former Chief Technology Officer and Chief Operating Officer of Rubin, resigned 30 years after the developer. In an interview with The Real Deal, Gilbert said: 55 Broad It is called “The Godfather of Smart Buildings”.

Last month, Silverstein Ends with $ 457.5 million refinancing 7 of the World Trade Center. Duty free bonds make up $ 449 million in loans. Goldman Sachs led the deal. The transaction was carried out in a green bond, a type of financing for projects that benefit the environment. The office tower has LEED Gold status.

Metroloft and Silverstein have recently noticed that they are on the other side of sales. December, Silverstein Purchased 400 condominiums $ 248 million on 116 John Street from Nathan Berman’s Metroloft. Ten years ago, Berman worked with Hacienda Intercontinental Realty to convert a 35-story building into an apartment and remove one of the last remaining office towers on John Street.

[CO] — Holden Walter-Warner

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