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New York & Tri-State  + Downtown New York  + Office  |  October 30, 2025
Paul Bubny
By: Paul Bubny

Fosun Refis Lower Manhattan’s 28 Liberty St. for $900M

Fosun International has secured a $900-million refinancing for 28 Liberty St., its 60-story, 2.1 million-square-foot office tower in Manhattan’s Financial District. The refi follows a 139,497-square-foot lease expansion by Stripe that helped bring the property to 93% occupancy.

The refi was arranged by a Cushman & Wakefield team of New York-based Gideon Gil, Zachary Kraft, and Cecelia Galligan and Rob Rubano, Brian Share, Joseph Lieske and Ernesto Sanchez out of Los Angeles. The financing was a three-year, interest-only CMBS loan, co-originated by JPMorganChase, German American Capital and Goldman Sachs, and refinances $895 million in existing debt.

The refinancing underscores renewed lender and tenant confidence in Manhattan’s office market, as leasing momentum at 28 Liberty has surged with 14 new deals totaling 438,000 square feet since early 2024, according to Cushman & Wakefield.

Read More News Stories About: Cushman & Wakefield
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Cushman & Wakefield's Gil

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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