{"id":1004172591,"date":"2017-04-13T03:21:25","date_gmt":"2017-04-13T11:21:25","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004172591"},"modified":"2022-12-08T20:22:08","modified_gmt":"2022-12-09T04:22:08","slug":"50-broadway-lands-62m-financing-loan","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/50-broadway-lands-62m-financing-loan\/","title":{"rendered":"50 Broadway Lands $62M in Financing"},"content":{"rendered":"<p>By IvyLee Rosario<\/p>\n<div id=\"attachment_1004172605\" style=\"width: 377px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/50-Broadway.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004172605\" data-attachment-id=\"1004172605\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/50-broadway-lands-62m-financing-loan\/50-broadway\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/50-Broadway.jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"50 Broadway\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;50 Broadway&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/50-Broadway.jpg?w=800\" class=\"wp-image-1004172605 \" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/50-Broadway.jpg\" alt=\"50 Broadway\" width=\"367\" height=\"275\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/50-Broadway.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/50-Broadway.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/50-Broadway.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 367px) 100vw, 367px\" \/><\/a><p id=\"caption-attachment-1004172605\" class=\"wp-caption-text\">50 Broadway<\/p><\/div>\n<p>Cushman &amp; Wakefield served as the exclusive advisor to an affiliate of the United Federation of Teachers Local 2, American Federation of Teachers and AFL-CIO, in arranging a $62 million loan for 50 Broadway in Manhattan. The 10-year, fixed-rate financing was provided by an affiliate of Citigroup Global Markets.<\/p>\n<p>The 37-story, 352,000-square-foot office and retail building is leased to over three dozen tenants including Seaport Electronics, YWCA, Regency International, CAA, Li-Saltzman Architects PC and the UFT and its affiliates. The UFT\u00a0purchased the asset in 2002 for $54 million and is leasing a total of 90,000 square feet. The company also net leased\u00a0the adjacent 52 Broadway, a 400,000-square-foot building. It\u00a0maintains its headquarters within the two buildings.<\/p>\n<p>Cushman &amp; Wakefield is the leasing and managing agent for both UFT locations. The 50 Broadway asset is currently 93.5 percent leased with five spaces available, and is undergoing lobby renovations.<\/p>\n<p>The Cushman &amp; Wakefield Equity, Debt and Structured Finance team of Steve Kohn, Mark Ehlinger and Michael Collins arranged the financing, assisted by the Cushman &amp; Wakefield Leasing Agency team of Mark Boisi and Stephen Bellwood on behalf of the UFT.<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cushman &amp; Wakefield arranged the financing on behalf of the UFT, who purchased the building in 2002 for $54 million and is currently leasing 90,000 square feet.<\/p>\n","protected":false},"author":746,"featured_media":1004172605,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,1600,21742,10,21747],"tags":[33169,34896],"class_list":["post-1004172591","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-new-york","category-latest","category-northeast","category-office","tag-citigroup-inc","tag-cushman-wakefield"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>50 Broadway Lands $62M in Financing - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/50-broadway-lands-62m-financing-loan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"50 Broadway Lands $62M in Financing\" \/>\n<meta property=\"og:description\" content=\"Cushman &amp; Wakefield arranged the financing on behalf of the UFT, who purchased the building in 2002 for $54 million and is currently leasing 90,000 square feet.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/50-broadway-lands-62m-financing-loan\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-04-13T11:21:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T04:22:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/50-Broadway.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"IvyLee Rosario\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/50-broadway-lands-62m-financing-loan\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/50-broadway-lands-62m-financing-loan\/\",\"name\":\"50 Broadway Lands $62M in Financing - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/50-broadway-lands-62m-financing-loan\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/50-broadway-lands-62m-financing-loan\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/50-Broadway.jpg\",\"datePublished\":\"2017-04-13T11:21:25+00:00\",\"dateModified\":\"2022-12-09T04:22:08+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f2094ece0e063845f848c7f1c7b84780\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/50-broadway-lands-62m-financing-loan\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/50-broadway-lands-62m-financing-loan\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/50-broadway-lands-62m-financing-loan\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/50-Broadway.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/50-Broadway.jpg\",\"width\":800,\"height\":600,\"caption\":\"50 Broadway\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/50-broadway-lands-62m-financing-loan\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"50 Broadway Lands $62M in Financing\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f2094ece0e063845f848c7f1c7b84780\",\"name\":\"IvyLee Rosario\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/IvyLee_Rosario.jpg?w=67\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/IvyLee_Rosario.jpg?w=67\",\"caption\":\"IvyLee Rosario\"},\"description\":\"IvyLee Rosario is a Senior Associate Editor for Commercial Property Executive and Multi-Housing News. 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