GFP Real Estate completes $24 million refinance of 120,000 s/f 5-9 Union Sq. West

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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Columns and Thought Leadership

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,

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Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.

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Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent

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The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account