{"id":1004271077,"date":"2018-10-11T06:14:07","date_gmt":"2018-10-11T14:14:07","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004271077"},"modified":"2018-10-11T06:18:20","modified_gmt":"2018-10-11T14:18:20","slug":"manhattan-office-project-lands-187m-construction-financing","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/manhattan-office-project-lands-187m-construction-financing\/","title":{"rendered":"Manhattan Office Project Lands $187M Construction Financing"},"content":{"rendered":"<p>By Corina Stef<\/p>\n<div id=\"attachment_1004271080\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/799_gallery3.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004271080\" data-attachment-id=\"1004271080\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/manhattan-office-project-lands-187m-construction-financing\/799_gallery3\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/799_gallery3.jpg\" data-orig-size=\"800,620\" 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;0&quot;}\" data-image-title=\"Rendering of 799 Broadway\" data-image-description=\"&lt;p&gt;Rendering of 799 Broadway&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Rendering of 799 Broadway&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/799_gallery3.jpg?w=800\" class=\"wp-image-1004271080 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/799_gallery3.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/799_gallery3.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/799_gallery3.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/799_gallery3.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004271080\" class=\"wp-caption-text\">Rendering of 799 Broadway<\/p><\/div>\n<p>Newmark Knight Frank has arranged a $187 million loan for the construction of a 182,000-square-foot, Class A office building at 799 Broadway in Midtown Manhattan. Apollo provided the financing to a joint venture between Normandy Real Estate Partners and Columbia Property Trust.<\/p>\n<p>Upon completion, expected in 2020, the 12-story property will offer 147,688 square feet of office space, 12,688 square feet of community space and 21,929 square feet of retail. Perkings+Will <a href=\"https:\/\/www.commercialsearch.com\/news\/300m-office-project-coming-to-manhattans-midtown-south\/\">will design the $300 million project<\/a>, which will feature a gym, expansive terraces on each floor, oversized glass windows, 15- to 17-foot ceiling heights and floor plates ranging from 3,600 to 22,000 square feet.<\/p>\n<p>Located at the convergence of Union Square, Greenwich Village, NoHo and East Village, the up-and-coming asset will be within walking distance of the 14th Street\/Union Square and Astor Place stations. Prominent tenants in the area include: IBM and St. John&#8217;s University at Edward Minskoff\u2019s 51 Astor Place, Facebook at Vornado\u2019s 770 Broadway and Atlassian and Netflix at 888 Broadway.<\/p>\n<p>The Newmark Knight Frank Capital Markets team comprised Co-Chairmen Dustin Stolly and Jordan Roeschlaub and Managing Directors Nick Scribani and Chris Kramer. Prior to that, in a deal brokered by Cushman &amp; Wakefield\u2019s Adam Spies, Adam Doneger, Kevin Donner and Josh King, Ares Management sold its 50 percent share in the project to Columbia. Normandy\u2019s Gavin Evans and Travis Feehan, along with Columbia\u2019s Kevin Hoover, acted as project leads.<\/p>\n<p><em>Image courtesy of Normandy Real Estate Partners<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The developers, a joint venture comprising Normandy Real Estate Partners and Columbia Property Trust, will use the loan for the construction of a $300 million project in Midtown South. <\/p>\n","protected":false},"author":241,"featured_media":1004271080,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,1600,21742,10,21747],"tags":[33121,33221,32799,36007,33267],"class_list":["post-1004271077","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-new-york","category-latest","category-northeast","category-office","tag-ares-management-lp","tag-columbia-property-trust-inc","tag-cushman-wakefield","tag-newmark-knight-frank","tag-normandy-real-estate-partners"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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