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Tuesday, 05 March 2013

DekaBank Lends $168.5Mln Against Manhattan's Milk Studios Building

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Commercial Real Estate Direct Staff Report

DekaBank Deutsche Girozentrale has provided $168.5 million of financing against the 325,000-square-foot Milk Studios Building in Manhattan.

The loan was used by the building's owner, Jamestown Properties, to replace $150 million of bridge financing that had been provided by a venture of Rockpoint Group and Stellar Management.

The venture earlier this year sold the building, at 450 West 15 St. in the Meatpacking District, to Jamestown for $295.5 million, or $909.25/sf. The purchase of the building and the debt were arranged by Eastdil Secured. The Rockpoint/Stellar team had purchased it from an Angelo, Gordon & Co. venture in 2008 for $161 million.

The building, between Ninth and 10th Avenues, was constructed in 1936 and was part of the Nabisco cookie complex. Since then, it has served as a storage building before it was converted into office space. The fully-occupied property is named after tenant, arts and media company Milk Studios.

Other tenants include Giorgio Armani, which has 60,000 sf, and inVentiv Health, which has 75,000 sf.

Comments? E-mail Josh Mrozinski or call him at (267) 247-0112, Ext. 213.


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Additional Info

  • Syndicate to Realpoint: No
  • Cities: New York City
  • States: New York
  • Sector: Office
  • Subject: Mortgages/Financing (MOR)
  • Valuation: More than $150 million
  • Private: No
Read 669 times Last modified on Tuesday, 05 March 2013

Data Digest







Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank #Deals Vol$mln MktShr%
Goldman Sachs 17.59 11,819.34 13.68
JPMorgan Securities 14.52 10,968.11 12.70
Citigroup 12.04 10,012.71 11.59
Wells Fargo Securities 14.02 9,936.06 11.50
Deutsche Bank 12.55 9,879.74 11.44




cppichart FP



CMBS 2.0 Spreads


Top CMBS Loan Contributors - 2017
Lender #Loans Vol$mln MktShr%
Goldman Sachs 146.89 11,719.34 13.63
JPMorgan Chase Bank 117.68 10,114.14 11.76
Deutsche Bank 198.48 9,689.97 11.27
Morgan Stanley 166.18 8,539.78 9.93
Citigroup 199.05 8,088.24 9.41





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