
NEW YORK CITY-Cassidy Turley has arranged $54.4 million loan for the United Federation of Teachers' headquarters situated at 50 Broadway in Downtown Manhattan. M&T Bank offered the fixed-rate loan for a seven-year term. Cassidy Turley organized the loan through its longstanding relationship with the bank. About 20 institutions responded to Cassidy Turley's RFP. The office tower is 93% occupied.
The union purchased the 37-floor office tower spanning 350,000 square feet in 2002 for about $54 million. For the full story, go to Commercial Property Executive .
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