From left: Rael Gervis, Richard Sutton
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.
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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.
