Macerich Closes $525M Refi of NY Mall
The rate is the lowest the company has received for a refinancing since 2019.
NEW YORK CITY—Google had previously arranged to lease 250,000 square feet at Pier 57 but has proposed adding 70,000 square feet for its offices, plus 50,000 square feet for public activities including cultural and educational programs, as reported in Crain’s.
Pier 57 extends onto the Hudson River in Manhattan at the end of West 15th Street at 11th Avenue.
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The rate is the lowest the company has received for a refinancing since 2019.
The price is a “meaningful discount to replacement cost.”
A continued housing shortage is driving multifamily.
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