Newmark Holdings Receives $120M in Refinancing for Three-Building Office Portfolio in New York City

by Amy Works

NEW YORK CITY — Newmark Holdings has received a $120 million refinancing loan with BNY Mellon and TD Bank of a three-building, 390,000-square-foot office portfolio located at 740 Broadway, 2-20 Astor Place and 440 Lafayette in New York City. The properties are currently more than 93 percent leased with a roster of prominent tenants, including New York University, Walgreens and L2 Inc. The new loan replaces the existing financing held by Mid-First & Amalgamated Bank that was originated in April 2008 and totaled approximately $53 million. Paul Talbot provided in-house representation for Newmark Holdings in the deal.

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