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Newmark Arranges Refi on Leased Fee Interest in 32 Old Slip
Newmark said Tuesday that it had arranged a $167-million loan on behalf of Safehold and Melohn Capital for the refinancing of the leased fee interest in the land beneath 32 Old Slip, a 36-story office tower in Lower Manhattan that is also known as One Financial Square.
Co-president of Global Debt & Structured Finance Jordan Roeschlaub, senior managing director Daniel Fromm and director John Caraviello secured the financing from Goldman Sachs, Barclays and Morgan Stanley. Terms of the financing were not disclosed.
Originally acquired in 2015, the leased fee interest is subject to a long-term ground lease with an affiliate of RXR. The owner, operator and developer owns the improvements on the site, which comprise a 1.2-million-square-foot Class A office tower. A CBRE agency team handles office leasing at the property, originally developed in 1987.
- ◦Financing

