The Witkoff Group and Cammeby’s International Group refinanced the office portion of the Woolworth Building in Lower Manhattan with a 278.9 m loan from Blackstone. The refinancing replaces a 256 m loan from 2015. The property, acquired by Steve Witkoff and Ruby Schron in 1998 for 137.5 m, is 92% leased, with NYU as its largest tenant. The top 30 floors, sold in 2012 for 68 m and converted into luxury condos, were not included in the deal. Iron Hound Management represented the borrowers in the transaction.
The Witkoff Group and Cammeby’s International Group
