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New York & Tri-State  + Downtown New York  + Finance  | 

111 Wall St. Redevelopment Lands $500M+ Debt Package

Newmark (dba Newmark Knight Frank in New York) has closed an acquisition and construction loan for 111 Wall St. on behalf of Nightingale Properties and Wafra Capital Partners. 

The frequent institutional joint venture partners will use a debt package exceeding $500 million to reposition and redevelop the 1.2-million-square-foot 111 Wall St. into a Class A office destination in Lower Manhattan’s Financial District.

The Newmark team, led by Dustin Stolly and Jordan Roeschlaub, vice chairmen and co-heads of the New York debt & structured finance team, secured the debt. David Blaivas of Blaivas & Associates, P.C. advised Nightingale and Michael Lefkowitz of Rosenberg & Estis, P.C. advised Wafra Capital Partners in the transaction.

“The exceptional track record, experience and financial wherewithal of Nightingale and WCP collectively was instrumental in this innovative financing during one of the most challenging financing environments in history,” said Stolly.


Inside The Story

Newmark's StollyNewmark's Roeschlaub

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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 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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