Search
 
News

Pergament Properties Receives $51M for Mall in Staten Island

MetLife provided the loan to refinance the Pergament Mall.

Robert Altman Robert Altman, co-managing partner, ABS Altman Warwick

NEW YORK CITY—The Pergament Mall located at 2795 Richmond Ave. in Staten Island received $51 million in refinancing from MetLife, sources close to the deal tell GlobeSt.com. The mall is adjacent to the 1.2 million square-foot Staten Island Mall.

ABS Altman Warwick, a brokerage and division of ABS Partners Real Estate, originated the loan, which was secured by the 360,000 square-foot Pergament Mall. The mall is owned by Pergament Properties, which has offices in Woodbury, NY and other assets in the state in Suffolk County, Nassau County, Queens County and Staten Island, as well as in NJ, NC, TN and GA. The 15-year, full term, interest-only loan has a 4.02% rate, which equated to a spread of 110 basis points over the 15-year treasury yield.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

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

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

Recommended Stories

Nominate a Net Lease Expert

Nominate a Net Lease Expert

Ingrid Tunberg |

Do you know a professional and/or company that has helped shape the net lease sector? Submit a candidate for GlobeSt.'s Influencers in Net Lease recognition before May 29!

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.