{"id":1004492827,"date":"2020-11-13T04:32:33","date_gmt":"2020-11-13T12:32:33","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004492827"},"modified":"2021-05-10T02:04:57","modified_gmt":"2021-05-10T10:04:57","slug":"empire-state-realty-obtains-180m-loan-for-nyc-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/empire-state-realty-obtains-180m-loan-for-nyc-tower\/","title":{"rendered":"Empire State Realty Obtains $180M Loan for NYC Tower"},"content":{"rendered":"<div id=\"attachment_1004492833\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/250-West-57th-Street-1-e1605267908244.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004492833\" data-attachment-id=\"1004492833\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/empire-state-realty-obtains-180m-loan-for-nyc-tower\/250-west-57th-street-1\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/250-West-57th-Street-1-e1605267908244.jpg\" data-orig-size=\"640,480\" 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=\"250 West 57th Street &#8211; 1\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;250 W. 57th St.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/250-West-57th-Street-1-e1605267908244.jpg?w=640\" class=\"wp-image-1004492833 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/250-West-57th-Street-1-e1605267908244.jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/250-West-57th-Street-1-e1605267908244.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/250-West-57th-Street-1-e1605267908244.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004492833\" class=\"wp-caption-text\">250 W. 57th St.<\/p><\/div>\n<p>Empire State Realty Trust has received a $180 million mortgage loan for a 542,000-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/top-10-leed-certified-buildings-in-new-york-state\/\">office and retail high-rise<\/a> in Midtown Manhattan. Estreich &amp; Co. arranged the interest-only financing, which bears a fixed rate of 2.83 percent and is set to mature in December 2030.<\/p>\n<hr>\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/empire-state-building-lands-212-ksf-lease\/\">Empire State Building Lands 212 KSF Lease<\/a><\/p>\n<hr>\n<p>Located just two blocks from Central Park at 250 W. 57th St., the 26-story tower is within walking distance of Carnegie Hall, Time Warner Center, Lincoln Center and Nordstrom\u2019s future flagship location. Additionally, the property offers in-building access to the Time Warner Center\/Columbus Circle subway station and street access to other 11 subway lines. Office tenants include Universal Music Group, GuildNet, ASCAP and Mount Sinai, as well as COOKFOX Architects, which received the first WELL Gold and LEED Platinum certifications in NYC for its space in the building. Retail tenants include HSBC Bank, Bank of America, AT&amp;T and T.J. Maxx.<\/p>\n<p>Originally completed in 1921, the building underwent a significant renovation in 2017. Improvements included a new Gensler-designed lobby, elevators and storefronts, new windows, as well as upgrades to building-wide systems such as state-of-the-art electrical, plumbing, HVAC and security.<\/p>\n<p>The announcement comes less than a month since Empire State Realty Trust welcomed Centric Bands at the Empire State Building. The tenant has signed for 212,154 square feet of space at the 2.8 million-square-foot Midtown landmark.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Estreich &#038; Co. arranged the mortgage financing for 250 W. 57th St., a 26-story building in Midtown Manhattan.<\/p>\n","protected":false},"author":748,"featured_media":1004492833,"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":[34345,32779,34432],"class_list":["post-1004492827","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-empire-state-realty-trust","tag-leed","tag-well-certification"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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