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Wednesday, 13 March 2019

JPMorgan, Deutsche Lend $595Mln Against Manhattan's 3 Columbus Circle

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The following story was edited to include the price that Moinian Group had paid for the VMLY&R space.

Commercial Real Estate Direct Staff Report

JPMorgan Chase Bank and Deutsche Bank have provided $595 million of financing against 3 Columbus Circle, a 685,200-square-foot office building in midtown Manhattan, allowing the property's owner to replace a $350 million CMBS loan that wasn't set to mature until March 2015.

As such, the property's owner, Moinian Group, has defeased, or replaced the loan with government securities. That loan was split into pieces and securitized through four CMBS deals: Citigroup Commercial Mortgage Trust, 2015-GC29, which holds a $100 million piece; COMM, 2015-CCRE23, with a $90 million piece; COMM, 2015-CCRE22, with an $85 million piece; and Wells Fargo Commercial Mortgage Trust, 2015-LC20, with a $75 million piece. It pays an interest-only coupon of 3.61 percent.

The new loan, which also will be securitized, requires only interest payments for its entire 10-year term and pays a coupon of 3.914 percent.

Moinian had acquired the building, formerly known as 1775 Broadway, in 1999 for $130 million. It previously had housed the headquarters of Newsweek magazine. The building faced...


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Additional Info

  • Syndicate to Realpoint: No
  • Cities: New York City
  • States: New York
  • Sector: Office
  • Subject: Mortgages/Financing (MOR)
  • Company: Deutsche Banc Alex. Brown, J.P. Morgan Chase
  • Valuation: More than $150 million
  • Private: Yes
Read 231 times Last modified on Monday, 18 March 2019

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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