40 Exchange Place 40 Exchange Place, in the Financial District

NEW YORK CITY—GFP Real Estate and Northwind Group closed on $100 million in refinancing for 40 Exchange Place, a 20-story, 300,000 square-foot office and retail building in Manhattan’s Financial District.

GFP Real Estate (originally known as Newmark) and Northwind Group acquired 40 Exchange Place from Weiss Realty for $115 million in November 2015, according to Real Capital Analytics. They subsequently engaged in a comprehensive capital improvement program for the building which was originally constructed in 1902. The owners significantly improved all tenant spaces, the lobby, common areas, restrooms, new storefronts, the roof, the façade and the building systems including elevator cabs, fire alarms, sprinklers and tenant HVAC systems.


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

More from this author

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.