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GlobeSt.com UPDATE: 100 Wall St. Sale Closes

NEW YORK CITY-An unnamed buyer takes 100 Wall St. out of Reckson's portfolio. The Melville, NY-based REIT considered the site a "non-core asset." The 463,000-sf sells for $134 million.

By Barbara Jarvie | Updated on December 21, 2005

NEW YORK CITY-The $134-million sale of 100 Wall St. has closed. An unidentified buyers has acquired the site from Reckson Associates Realty Corp. which has provided the purchaser with a $30-million mezzanine loan that will bear interest at 15% per annum, has a term of two years and an approximate 85% loan-to-cost.

GlobeSt.com previously reported the sale in November. The 463,000-sf office sold for $290 per sf.According to Reckson officials, the site has near-term rollover with approximately 85,000 sf–net of space already committed–expiring over the next 12 months.

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