REBusinessOnline

Berkadia Arranges $140M Refinancing for Multifamily Tower in Manhattan

Ocean at One West Street in Manhattan.

NEW YORK CITY — Berkadia has arranged the $140 million refinancing of Ocean at One West Street, a multifamily tower in the Battery Park neighborhood of Manhattan. Located at 1 West St., the property was built in 1902 as an office building and converted to residential use in 1999. Amenities at the building include a fitness center, private laundry, storage facilities and an outdoor roof deck with views of the New York Harbor. Stewart Campbell of Berkadia’s New York office secured the financing through Freddie Mac on behalf of Delaware-based Ocean Prime LLC. The 10-year permanent refinancing features a 3.99 percent fixed interest rate and is a full-term, interest-only loan.

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