The Rudin family, one of New York City’s largest private owners, operators and developers of real estate, has announced the closing of a $100 million refinancing of 80 Pine Street, a 1.2 million-square-foot office tower that occupies the full block between Pearl and Water streets in Lower Manhattan. Bank of America served as the lender on the new loan.
Constructed by the Rudin family in 1960, 80 Pine St. is situated near the Seaport District along the East River waterfront. The proceeds from the new loan will be used to refinance 80 Pine St.’s existing debt and fund the costs of an extensive capital expenditure program and repositioning of the 38-story tower.
Rudin commenced a comprehensive capital program to reimagine and modernize 80 Pine St. in 2020. The renovation of the ground floor entrances and lobby, designed by renowned architectural firm Fogarty Finger Architecture, was completed earlier this year. The new lobby features white terrazzo f