Sapir refinances 100 Church Street with $255m loan.Alex Sapir, president of The Sapir Organization announced that 100 Church Street has refinanced its existing debt with a $255 million new loan from Wachovia Securities Wachovia Securities, located in Richmond, Virginia (soon to be moved to St. Louis), is the third largest brokerage firm in the United States as of 2006 with $689 billion retail client assets under management. It is a subsidiary of Wachovia Corporation. . The financing was arranged by Carlton Advisory Services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal . The premier downtown office building is currently undergoing a major multi-million dollar capital improvement program. "The Sapir Organization is extremely proud that the financial community continues to recognize our strong property portfolio and corporate strength in this new financing for 100 Church Street," said Alex Sapir. "The building's major capital improvements and extraordinary location are attracting great interest from corporate tenants who want to be in the center of a vibrant new downtown community." 100 Church is a 21-story, 1,129,946 million square foot multi-tenant office building which occupies an entire city block. The building is currently undergoing a multi-million dollar capital improvement program that is transforming it into one of the finest commercial office buildings in Lower Manhattan The following is a list of buildings in Lower Manhattan, particularly New York City's financial district, and especially Wall Street. Wall Street
Building renovations include a new lobby and entryway; a complete upgrade of HVAC (Heating Ventilation Air Conditioning) In the home or small office with a handful of computers, HVAC is more for human comfort than the machines. In large datacenters, a humidity-free room with a steady, cool temperature is essential for the trouble-free , electrical and mechanical systems; new elevator elevator, in machinery elevator, in machinery, device for transporting people or goods from one level to another. The term is applied to the enclosed structures as well as the open platforms used to provide vertical transportation in buildings, large ships, cabs and state-of-the-art fire/ life safety systems. Additionally, the building now offers enhanced tenant services such as a messenger center, concierge services and extended HVAC hours. As part of the building's renovation, 100 Church Street's lobby now hosts the world's largest collection of Swarovski Crystal chandeliers. The Sapir Organization recently announced that luxury publisher Niche Media will move its headquarters to 100 Church Street and has signed a 45,419 s/f, 10-year lease. Niche Media joins a solid tenant roster including the New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. Law Department and The Business Integrity Commission. "There has been tremendous interest from potential tenants and new leasing activity at 100 Church Street. Lower Manhattan Lower Manhattan is the southernmost part of the island of Manhattan, the main island and center of business and government of the City of New York. Lower Manhattan is generally defined as the area delineated on the north by Chambers Street, on the west by the Hudson River (North is emerging as the city's fastest growing and most vibrant commercial office market," Alex Sapir added. "A major portion of our real estate portfolio is in lower Manhattan and this loan is a wonderful sign of corporate confidence in the downtown office market." The loan was arranged for The Sapir Organization by Managing Directors Robert Verrone and Robert Rosenberg of Wachovia Securities. "We are pleased to provide the new financing to 100 Church Street and we are proud to be associated with this premier building. The capital improvement program and building renovations are truly outstanding," said Robert Rosenberg. Howard Michaels, Carlton Advisory Services founder and chairman, advised on the transaction. Carlton is a national real estate investment banking firm prominent in debt and equity placement, investment sales and commercial and residential loan sales. In addition to Michaels, the transaction team was headed by Carlton senior executive Michael J. Campbell, partner. "100 Church Street is one of the most prominent buildings in downtown Manhattan," Michaels said. "We at Carlton believe this deal affirms our ability to successfully close large transactions, even during the current capital markets and CMBS CMBS See: Commercial Mortgage Backed Securities dislocation dislocation, displacement of a body part, usually a bone. When a bone is dislocated, the ends of opposing bones are usually forced out of connection with one another. In the process, bruising of tissues and tearing of ligaments may occur. ." |
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