New York City.
NEW YORK CITY – Nightingale Properties and Wafra Capital Partners have secured a $145 million fixed-rate loan from SL Green and an undisclosed party for the acquisition to acquire 111 Wall St. in Downtown Manhattan. Newmark Knight Frank arranged the transaction.
Situated on a full New York City block between Wall Street and Gouverneur Land, 111 Wall Street – formerly known as the Citibank Building – stands 24-stories tall and spans 1.1 million square feet. The property features views of the waterfront and the Lower Manhattan and Brooklyn skyline.
Built-in 1968 as the headquarters for First National City Bank, 111 Wall St. has been institutionally owned and operated since completion. The iconic property is slated for a renovation to become more modernized.
Nightingale and WCP plan to introduce amenities in the building, activating an outdoor space with a rooftop available to both tenants and the general public. "The unmatched views of the East River and unique luxury amenity offerings at 111 Wall Street make the property a very attractive home for the most desirable tenants in the market," said Jordan Roeschlaub, vice chairman and co-head of debt & structured finance at Newmark Knight Frank.
The Newmark Knight Frank team was led by Vice-Chairmen and Co-Heads of Debt & Structured Finance Dustin Stolly and Jordan Roeschlaub, along with Nick Scribani, Chris Kramer, Seth Hall and John Gallagher. Newmark Knight Frank President and Head of Investor Services Jimmy Kuhn arranged the sale of the property on behalf of Zurich Insurance.
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
