{"id":244050,"date":"2026-05-26T16:50:21","date_gmt":"2026-05-26T16:50:21","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/244050\/"},"modified":"2026-05-26T16:50:21","modified_gmt":"2026-05-26T16:50:21","slug":"affinius-capital-provides-88m-acquisition-financing-for-cityspire-office-purchase-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/244050\/","title":{"rendered":"Affinius Capital Provides $88M Acquisition Financing for CitySpire Office Purchase \u2013 Commercial Observer"},"content":{"rendered":"

Affinius Capital has provided $88 million to the joint venture acquiring the 24-floor office component of CitySpire, the 70-story, 377,500-square-foot office and condo tower on West 56th Street in Manhattan, Commercial Observer can first report.\u00a0\u00a0<\/p>\n

CO related<\/a> in February that Tishman Speyer<\/a> and GIC<\/a> sold CitySpire to DelShah Capital<\/a> and A.M. Property Holding Corporation<\/a> for $137.5 million. The deal closed last week, sources said.\u00a0<\/p>\n

SEE ALSO: Bridge Investment Group Lends $40M on Tampa Apartments Buy<\/a><\/p>\n

CO can also first report that Realm<\/a> is part of the partnership with DelShah Capital and A.M. Properties to acquire the office portion of CitySpire.\u00a0<\/p>\n

Newmark\u2019s Adam Spies, Avery Silverstein, Adam Doneger, Joshua King and Marcella Fasulo represented Tishman and GIC in the deal, while Newmark\u2019s Jordan Roeschlaub, Christopher Kramer, Nick Scribani and Tim Polglase arranged the acquisition financing.\u00a0<\/p>\n

Travis King, founder and CEO of REALM, noted in a statement that his firm has seen \u201cstrong fundamentals\u201d in Midtown office assets, primarily those with strong leasing activity.\u00a0<\/p>\n

CitySpire\u2019s office component currently reports 98 percent occupancy following $22 million of investments into capital improvements made by Tishman and GIC.\u00a0<\/p>\n

\u201cCitySpire reflects our focus on highly selective investments with strong downside protection and long-term upside,\u201d said King.\u00a0\u00a0<\/p>\n

The joint venture of REALM, DelShah Capital and A.M. Property Holding Corporation purchased CitySpire at an 8.5 percent cap rate and will inherit a building with renovated common areas and a current tenant list that includes footwear giant Caleres, law firm Windels Marx Lane & Mittendorf and New York Road Runners, according to REALM.\u00a0\u00a0<\/p>\n

CitySpire is located at 156 West 56th Street in Midtown West, and was developed by Ian Bruce Eichner, founder of the Continuum Company. The tower opened in 1990 to much fanfare, as it became the second-tallest stone and concrete tower in the U.S. after the Sears Tower (now Willis Tower) in Chicago, and became famous for combining luxury condos with multiple floors of office space.<\/p>\n

Brian Pascus can be reached at bpascus@commercialobserver.com<\/a>.<\/p>\n

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