Manhattan, NY GFP Real Estate, LLC closed a $24 million loan for the refinancing of 5-9 Union Sq. West, an eight-story, 120,000 s/f, 100% leased office building located Union Sq.
The five-year, fixed-rate permanent loan was secured from Amalgamated Bank and underscores the strength of GFP Real Estate’s reputation and longstanding successful track record in the industry.
Paul Talbot, senior managing director at Newmark, represented GFP Real Estate in arranging the financing for the loan, which closed in late September.
“Because of the reputation and track record of GFP, securing financing in this very difficult lending market is achievable by having strong family and long-term ownership,” said Talbot. “This successful refinancing reaffirms GFP Real Estate’s commitment to maintaining and enhancing the value of its properties, while also exemplifying its dedication to its tenants and partners.”
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