Northwind Group Provides a $95 Million First-Mortgage Loan Secured by 100 Wall Street, a 29-Story Office Building located in the Heart of the Financial District

NEW YORK, July 31, 2024 /PRNewswire/ -- Northwind Group, a Manhattan-based real estate private equity firm and debt fund manager, announced today it provided a $95 million senior mortgage acquisition loan secured by 100 Wall Street, a 29-story office property totaling over 515,000 GSF.  The property was acquired by a joint venture between Lloyd Goldman's BLDG and David Werner's DWREI, two highly experienced New York City real estate sponsors. The low basis, efficient floor plans and good air & light on all four sides, set 100 Wall Street apart from similar office product in the Financial District.

Northwind Group structured a competitive and quick financing solution. Since the beginning of 2024 Northwind has successfully closed on over $650 million in loans across NYC and other major gateway markets and continues to provide capital to high quality borrowers and properties that meet its investment criteria.

David Werner, President of DWREI, said "I am proud to once again partner with BLDG.  It was a pleasure doing business with Ran Eliasaf and Michael Ainbinder of Northwind Group. They are an efficient, accurate, and fast-moving lender while providing flexibility where needed. Their proactive engagement and professional coordination were instrumental in achieving our objectives efficiently and with precision. I am deeply appreciative of the professionalism and dedication displayed by the entire Northwind team, and I look forward to working with them again in the near future." 

Justin Kleinman, Executive Vice President and COO of BLDG, said "100 Wall is an extraordinary asset that presents an array of opportunities to enhance value and tenant experience. BLDG is thrilled to own this investment in partnership with DWREI." 

"We are pleased to partner with prolific New York City owners Lloyd Goldman and David Werner, which reinforces our commitment to expanding our relationships with high quality sponsors. This iconic office building, situated in the heart of Manhattan's financial district, represents a cornerstone of our commitment to strategic investment and innovative financing solutions in core urban markets. Despite the challenges faced in today's office market, the attractive basis, existing in place cash flow, strong top-floor WALT and tenancy, and potential for residential conversion give us confidence in a path towards stabilization in the building. We have underwritten many offices NYC and elected to finance this project as it checks all the boxes with a clear and simple business plan," said Ran Eliasaf, founder and managing partner of Northwind Group.

Northwind was represented by John Vavas of Polsinelli Law Firm.

About Northwind Group
Northwind Group, founded in 2008 by Ran Eliasaf, is a Manhattan based real estate private equity firm with $2.2 billion in AUM that invests primarily in debt instruments through its discretionary closed-ended debt funds. For further information, go to www.northwind-group.com.

About David Werner Real Estate Investment
David Werner is a NYC based real estate investor who has been actively involved in commercial real estate for more than 40-years.  He has extensive experience with both office and residential properties and has owned many iconic office buildings in NYC.

About BLDG
BLDG Management Company, Inc., led by Lloyd Goldman, is a Manhattan-based, privately held real estate investment, development and management company with an expansive portfolio of residential, retail, industrial, hospitality and office assets across the United States.

Media Contact:
Jaclyn Leibrock
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SOURCE Northwind Group