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Largest Manhattan Real Estate Loans of April 2021


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From left: 909 Third Avenue, 79 Fifth Avenue, 240 West 37th Street and 27 East 62nd Street (VNO, Cercone Exterior Restoration, Google Maps)
The 10 largest Manhattan real estate loans recorded in April totaled about $790 million, less than half of March’s total.
Once again, the commercial mortgage-backed securities market produced the month’s largest loan: a refinancing for a Midtown office tower on top of a USPS warehouse. It was also the month’s only loan of more than $100 million.
Here were the borough’s largest real estate loans in April:
1) You’ve got mail | $350 million
Vornado Realty Trust secured a $350 million refinancing for 909 Third Avenue from Citi Real Estate Funding, Bank of America and BMO Harris. The property has a 490,000-square-foot warehouse at its base, which serves as the United States Postal Service’s main mail processing facility in New York City. Major tenants in the office tower include advert ....

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'You show face in the office, you get brownie points': What are the risks of staying remote as offices reopen?


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You show face in the office, you get brownie points : What are the risks of staying remote as offices reopen?
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Rira Raisi stops to check on her dog Pablo in her home where she has been working during the COVID-19 pandemic in San Francisco Calif., on Tuesday, April 6, 2021. Raisi is hoping to return to work with a hybrid schedule that includes several work from home days.Carlos Avila Gonzalez / The Chronicle
As offices slowly reopen in the Bay Area, many workers are not rushing back to their cubicles, opting to continue working remotely now and into the future. ....

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