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Press Release
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Contact: Nick Derasmo (212.841.7505) |
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SONNENBLICK-GOLDMAN COMPANY ARRANGES DEBT FINANCING FOR THE PURCHASE OF 120 BROADWAY IN NEW YORK CITY |
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Tuesday, May 02, 2000
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New York, NY
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Sonnenblick-Goldman Company, acting as the exclusive financial advisor to Silverstein Properties, Inc., arranged a first mortgage loan to finance the purchase of the leasehold interest in 120 Broadway in downtown Manhattan. 120 Broadway Associates LLC, which purchased the property, is a joint venture comprised of Larry A. Silverstein, Blackstone Real Estate Partners III, L.P. and Walton Street Real Estate Fund III, L.P. A consortium of 12 banks, led by Bank of New York, provided the $140,000,000 first mortgage.
Built in 1915, 120 Broadway is the premier pre-war office building in downtown Manhattan. The 41-story, 1,841,000 square foot Class A office building occupies the city block that is bound by Broadway, Nassau Street, Cedar Street and Pine Street. The landmark building is currently 92% leased with tenants such as the Department of Law of the State of New York, Spear, Leeds & Kellogg and Donaldson, Lufkin and Jenrette, Inc. |
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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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