Rent Roll for Large 2007 Loan Set to Change Dramatically

According to a report in the New York Post by Steve Cuozzo, the rent roll for 85 Tenth Avenue in Manhattan is about to change dramatically. It appears that Google will be leasing 360,000 square feet in the roughly 600,000 square-foot building. The office building was built in 1913 and is owned by Related.

The property backs $226 million of senior CMBS debt split across two 2007 deals. A $150 million piece represents 6% of COMM 2007-C9, and a $76 million slice makes up 4.5% of CD 2007-CD5. The loan is current and does not mature until June 2017. At one point, the US General Services Administration was the lead tenant with over a third of the space.

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