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New York & Tri-State  + Midtown New York  + Finance  |  January 10, 2025
Paul Bubny
By: Paul Bubny

Tishman Speyer Closes $2.85B Refi for The Spiral

Tishman Speyer said Friday it had refinanced The Spiral, its newly constructed Manhattan office tower, with a $2.85-billion CMBS loan. The five-year, fixed-rate loan was led by JPMorgan Chase with Bank of America, Goldman Sachs and Wells Fargo serving as co-lenders.

Two years after its opening, The Spiral is 94% leased with a tenant roster including HSBC, TPG Global, Debevoise & Plimpton LLP, AllianceBernstein, Turner Construction and Marshall Wace. The refi on the 66-story, 2.8-million-square-foot office property at 66 Hudson Blvd. follows a $3.5-billion loan for Rockefeller Center less than three months ago; reportedly the Rock Center financing is the largest CMBS issuance ever for a single office asset.

“We are exceptionally proud of The Spiral and pleased to deliver value for our investors,” said Tishman Speyer CEO Rob Speyer. “Together, The Spiral and Rockefeller Center demonstrate that premier properties with the right amenities, strong occupancy and established sponsors continue to outperform the market.”

Read More News Stories About: Tishman Speyer
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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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