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Newmark Arranges $312M Sale of Plaza District Office Tower
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Newmark said Friday it has advised on the sale and arranged $155 million in acquisition financing for 10 E. 53rd St., a 385,224-square-foot Class A office tower in Manhattan’s Plaza District. Meadow Partners acquired the property from seller SL Green Realty Corp. for $312 million. The acquisition loan was provided by Corebridge Financial, according to published reports.

Co-Head of U.S. Capital Markets Adam Spies, Executive Vice Chairman Adam Doneger and Executive Managing Director Avery Silverstein advised the seller, while Co-Head of Global Debt & Structured Finance Jordan Roeschlaub, Vice Chairman Nick Scribani, Director Tim Polglase and Analysts Stavros Giannakopoulos and Lance Tillman secured the financing with Corebridge.

The sale ends a hold period that lasted nearly 15 years. SL Green acquired 10 E. 53rd in early 2012 for $252.5 million and invested $67 million in capital improvements during its ownership. The property’s tenant roster includes Equinox, Magnetar, Urban Compass and Ermenegildo Zegna

The post Newmark Arranges $312M Sale of Plaza District Office Tower appeared first on Connect CRE.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.
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