Princeton International Gets $100M Loan for 90 Broad St.
The 25-story Financial District office tower was refinanced with a seven-year, fixed-rate loan.
NEW YORK CITY—Princeton International Properties has refinanced its Lower Manhattan skyscraper at 90 Broad St. with a $100 million loan from New York Community Bank. Meridian Capital Group’s Jeff Weinberg, Rael Gervis and Richard Sutton based in New York City negotiated the seven-year, fixed-rate loan.
Princeton International bought the 25-story, 392,989-square-foot office tower from JP Morgan and Swig Equities for $129 million in January 2014, according to Real Capital Analytics. The building was originally constructed in 1930.
The property is 97% occupied. Ground floor retail tenants Café Grumpy, Potbelly Sandwich Shop, Just Salad, Five Iron Golf and Dunkin Donuts have businesses up and running at the location.