RFR Snaps Up Brickman’s 95 Morton Street for $206M, Citi Lends $95M
Cathy Cunningham and Rey Mashayekhi April 14, 2017, 12:04 p.m.
Aby Rosen and Michael Fuchs’ RFR Realty has closed on its $206 million purchase of 95 Morton Street in the West Village from real estate investment firm Brickman, property records filed yesterday with the city show.
RFR finalized its acquisition of the eight-story, 215,000-square-foot office building between Washington and Greenwich Streets on April 5.
Citigroup provided a $95 million mortgage in the transaction, which consolidates $58.5 million in existing debt with a $36.5 million gap mortgage. The debt is split into a $60 million A-1 note and $35 million A-2 note.
Commercial Mortgage Alert first reported news of the deal in March.
Brickman acquired 95 Morton Street from Chicago-based LPC Midwest—a division of Dallas-based Lincoln Property Company—for $96.5 million in November 2008, according to property records.
Office tenants at 95 Morton Street include PayPal, which took 95,000 square feet at the building in 2015, and branding firm VSA Partners, which signed on for 25,000 square feet in 2014.
A spokeswoman for RFR confirmed the deal but declined to comment. Brickman declined to comment. Citi did not immediately return a request for comment.