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Press Release
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Contact: Nick Derasmo (212.841.7505) |
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SONNENBLICK-GOLDMAN COMPANY ARRANGES $425,000,000 FIRST MORTGAGE FOR 1515 BROADWAY |
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Monday, June 14, 2004
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New York, NY
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Sonnenblick-Goldman Company, serving as exclusive financial advisor to an affiliate of SL Green Realty Corp. and SITQ Inc., has arranged a LIBOR- based, floating-rate, first mortgage financing in the amount of $425,000,000 for 1515 Broadway in Manhattan, an approximately 1.8 million square foot office building located on the west side of Broadway, between West 44th Street and West 45th Streets, in the heart of Times Square.
The loan was provided by Lehman Brothers and Wachovia Bank.
1515 Broadway, a 56-story, Class-A office building, whose sharply-angled crown is a signature on the New York City skyline, is the world headquarters of Viacom, Inc., one of the world’s leading media and entertainment companies. Viacom’s holdings include franchise brands CBS, MTV Networks, Paramount Pictures, Showtime and Infinity Broadcasting.
Viacom leases over 1.3 million square feet at the property (approximately 89% of the office space). The retail and theatre space of approximately 166,000 square feet includes the Minskoff Theatre, Fleet Bank and MTV.
Sonnenblick-Goldman’s financing team was led by Morton Holliday, managing director, and included Mark Ehlinger, director; Alex Hernandez, senior associate; and Peter Hopkins, analyst.
"1515 Broadway’s ideal location, credit quality of its tenant roster and extremely strong sponsorship created great interest within the financial community," says Mr. Holliday. |
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Sonnenblick-Goldman, LLC is the industry’s leading independent real estate investment banking firm. Founded in 1893 to serve the financing needs of the real estate industry, Sonnenblick-Goldman, LLC provides a full range of financial services, including debt and equity placements, joint ventures, investment sales and advisory services. Headquartered in New York, Sonnenblick-Goldman maintains offices in San Francisco, Boston, Hong Kong, Shanghai, Sydney and Tokyo. Further information can be found at Sonnenblick-Goldman, LLC’s website at www.cushwake.com/sonngold.
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