Silverstein Properties and Metro Loft Buying 55 Broad Street for $180M
By Celia Young May 17, 2022 11:20 am
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Rudin Management is selling 55 Broad Street for about $180 million to a joint venture of Silverstein Properties and Metro Loft, Commercial Observer has learned.
The 30-story building between Beaver Street and Exchange Place is in contract for sale, according to the source with knowledge of the deal, though it’s unclear when the deal will close. The Rudin family has owned the building since the 1960s and renovated the lobby and entrance to include new marble walls, reflective ceilings and upgraded security systems in 2019.
The property is home to the charter school network Uncommon Schools, Curtis + Ginsberg Architects, the French engineering firm Systra and a Starbucks. Rudin refinanced the building in 2016, snagging a $60 million mortgage from State Farm Realty Mortgage that restructured debt going back to the 1950s, property records show.
Rudin built the property, designed by Emery Roth & Sons, as the headquarters for Goldman Sachs — which left for 85 Broad Street in 1983 — and later renovated the property in the early 1990s when it established the Lower Manhattan tower as one of the first tech hubs in the city, equipped with high-speed Ethernet cables and video conferencing.
Eastdil Secured’s Gary Phillips, Steve Binswanger and Will Silverman advised Rudin on the sale, according to the source. Eastdil, Silverstein Properties and Metro Loft declined to comment. Rudin did not immediately respond to a request for comment.
Celia Young can be reached at cyoung@commercialobserver.com.
