Nyack College wins $55m in financing for Two Washington St in Manhattan

Nyack College has received a $55 million in acquisition financing for the purchase of a commercial office condominium in Manhattan’s Financial District. The 166,385 sqf building, Two Washington Street, is a 21-story office building located along Washington Street just north of Battery Park. The College occupies eight floors within the building, including the lower and ground levels and floors 17 through 22. CBRE Capital Markets’ Debt & Structured Finance team arranged the 10-year, fixed-rate loan provided by Natixis. “The loan helped facilitate ownership’s long-term desire to own prime New York City real estate and operate its various academic programs in one of Manhattan’s most thriving markets,” said Shawn Rosenthal, Executive Vice President, Capital Markets, CBRE.