AIG refinances Lower Manhattan office building

AIG Investments has provided JEMB Realty with a $50m loan to refinance 150 Broadway in Lower Manhattan, Real Estate Capital has learned based on city property records.

AIG Investments has provided JEMB Realty with a $50m loan to refinance 150 Broadway in Lower Manhattan, Real Estate Capital has learned based on city property records.

 The financing replaces a previous $60m loan that refinanced the property back in 2007.

Also known as the Westinghouse Building, the 23-story, 276,000 sq ft commercial high-rise is comprised of office and retail space.

It is home to JEMB Realty’s headquarters, at the corner of Broadway and Liberty Street in the heart of the Financial District (FiDi).

Last month AIG Investments provided a $75m, 20-year, fixed-rate, non-recourse loan on the new Stanhope Student Apartments, adjacent to North Carolina State University in Raleigh, North Carolina.

JEMB did not respond to requests for comment on the loan and its terms.

 

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