{"id":1004755289,"date":"2025-04-23T04:29:08","date_gmt":"2025-04-23T12:29:08","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004755289"},"modified":"2025-04-23T05:26:38","modified_gmt":"2025-04-23T13:26:38","slug":"manhattan-tower-lands-193m-refi","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/manhattan-tower-lands-193m-refi\/","title":{"rendered":"Manhattan Tower Lands $193M Refi"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/180-Maiden-Lane-in-Manhattan.jpg\"><img decoding=\"async\" data-attachment-id=\"1004755291\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/manhattan-tower-lands-193m-refi\/180-maiden-lane-in-manhattan\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/180-Maiden-Lane-in-Manhattan-e1745403387432.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;\\u00a9 Yardi Systems, Inc.&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=\"180 Maiden Lane in Manhattan\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/180-Maiden-Lane-in-Manhattan-e1745403387432.jpg?w=640\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/180-Maiden-Lane-in-Manhattan.jpg\" alt=\"Exterior shot of Continental Center, a 41-story, 1.17-million-square-foot office tower in Manhattan's financial district. \" class=\"wp-image-1004755291\" style=\"width:400px\"\/><\/a><figcaption class=\"wp-element-caption\">Also known as Continental Center, the skyscraper at 180 Maiden Lane rises 41 stories. <em>Image courtesy of CommercialEdge <\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Picchio International has obtained a $193.1 million refinancing loan for 180 Maiden Lane, a 1.2 million-square-foot office tower in Manhattan, according to CommercialEdge data. Wilmington Trust issued the note.<\/p>\n\n\n\n<p>ING Group originated an acquisition loan in the same amount in July 2024 to aid Picchio International purchase the 41-story building from CalSTRS, the same source shows. The property traded for $297 million, about $253.7 per square foot.<\/p>\n\n\n\n<p>Completed in 1982 after the plans of Swanke Hayden Connell Architects, the property also known as Continental Center is LEED Certified. Floorplates at the high-rise range from 23,566 to 32,208. The tower also has a conference room, fitness center and one floor of retail space.<\/p>\n\n\n\n<p>The tenant roster comprises the New York City Department of Investigation, the National Debt Relief, the New York Liquidation Bureau and Holborn Corp., among others.<\/p>\n\n\n\n<p>The office building is in the Financial District, just off FDR Drive and overlooking the East River. The Battery Park, as well as several metro stations, are within 1 mile of the property.<\/p>\n\n\n\n<p>Manhattan&#8217;s full-service equivalent listing rates as of March averaged $68.9 per square foot, more than double the $33.4 national figure, a recent<a href=\"https:\/\/www.commercialsearch.com\/news\/commercialedge-office-report-march-2025\/\"> CommercialEdge office report<\/a> shows. The average vacancy rate in the borough reached 16.4 percent during the same month, below the 19.7 percent U.S. figure.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wilmington Trust originated the note, according to CommercialEdge.<\/p>\n","protected":false},"author":3619,"featured_media":1004755291,"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":[52383],"class_list":["post-1004755289","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-wilmington-trust"],"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>Manhattan Tower Lands $193M Refi - 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