Newmark Secures $275 Million Financing for Luxury Residential Development in New York, NY

Whats Happening:

Newmark, a leading commercial real estate services firm, has arranged a $275 million loan to refinance 63-67 Wall Street, a two-tower luxury residential complex in New York City's Financial District. The 816-unit property, originally constructed as two separate office buildings in the 1920s, was converted into apartments in the mid-2000s. The current owners, Rockpoint and Brooksville Company, acquired the property in 2016 and have since invested heavily in renovations and upgrades.

Key Moves:

• Newmark arranges $275 million refinancing for 63-67 Wall Street

• Apollo Global Management provides the funding

• Owners Rockpoint and Brooksville Company have invested in significant property upgrades since 2016

By The Numbers:

• $275 million loan secured for refinancing

• 816-unit residential complex in Financial District

• Newmark generated revenues of over $2.7 billion in 2024

Bottom Line:

This significant refinancing deal for a luxury residential property in New York City's Financial District demonstrates continued investor confidence in high-end urban real estate. It also showcases Newmark's ability to facilitate large-scale transactions in the commercial real estate sector, reinforcing its position as a leader in the industry.

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