Member News, News

NYC Office to Lose Second Largest Tenant, Loan Backs Two 2013 CMBS Deals

report from The Real Deal on Tuesday indicated that New York’s Chrysler East (a Tishman property) will be losing its second largest tenant. According to the piece, accounting firm Grant Thornton has inked a lease for 130,000 square feet at Aby Rosen’s 757 Third.

Grant Thornton occupies the 11th, 12th, and 13th floors at Chrysler East. That totals about 63,000 square feet, or approximately 8% of the space in the building. The lease ends in November 2014.

The property backs $265 million of CMBS debt split across two deals. There is a $165 million slice that makes up 12% of MSBAM 2013-C7, and a $100 million piece that makes up 8.9% of MSBAM 2013-C8.

Compliments of Trepp, LLC – a EACCNY Member