60 Guilders Grabs 12 MetroTech Buy With $106 Million Starwood Loan
Brookfield Property Partners has officially sold its office condominium at 12 MetroTech Center in Downtown Brooklyn to 60 Guilders for $128 million.
Starwood Property Trust granted $106 million in acquisition financing for the deal – one of the largest office transactions in the area to close since the COVID-19 pandemic hit.
Cushman & Wakefield’s Gideon Gil, Lauren Kaufman, Steve Kohn and Alex Hernandez negotiated the five-year, interest-only loan on behalf of the buyer, while C&W’s Doug Harmon, Adam Spies, Adam Doneger, Dan O’Brien, Rachel Humphrey and Meaghan Philbin negotiated the sale of the asset.
The office condo – which has an alternate address of 330 Jay Street – spans the top five floors of the 30-story building at 12 MetroTech Center and features its own lobby. The City of New York owns the first 25 floors.
Built-in 2004, the 1.1-million Sq Ft., Class A office property was developed by Forest City Realty Trust, with Brookfield acquiring ownership of the office condo in 2018 as part of its $6.8 billion acquisition of the real estate investment trust.