Apr

New York Life Lends $205Mln Against Manhattan’s 757 Third

New York Life Real Estate Investors has provided $205 million of mortgage financing against 757 Third Ave., a 503,000-square-foot office building in midtown Manhattan that recently was acquired by Multi-Employer Property Trust.

MEPT, a commingled investment fund managed by Bentall Kennedy of Seattle, bought the 27-story building for $360 million, or nearly $716/sf, from RFR Realty in a deal brokered by Eastdil Secured. The property had been previously encumbered by a floating-rate loan that Aareal Capital Corp. had provided two years ago….

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New York Life Lends $205Mln Against Manhattan’s 757 Third

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