{"id":37829,"date":"2025-11-13T00:36:08","date_gmt":"2025-11-13T00:36:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/37829\/"},"modified":"2025-11-13T00:36:08","modified_gmt":"2025-11-13T00:36:08","slug":"jp-morgan-lends-100m-for-david-werners-purchase-of-midtown-building-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/37829\/","title":{"rendered":"JP Morgan Lends $100M for David Werner\u2019s Purchase of Midtown Building \u2013 Commercial Observer"},"content":{"rendered":"

A joint venture between David Werner Real Estate Investments<\/a> and 601W Companies<\/a> has sealed $100 million of acquisition financing for the purchase of the Durst Organization<\/a>\u2019s longtime office building at 205 East 42nd Street, Commercial Observer has learned.<\/p>\n

J.P. Morgan Chase provided the balance sheet loan for the $165 million acquisition of the 21-story building developed by the Durst family in 1927 steps from Grand Central Terminal.\u00a0<\/p>\n

SEE ALSO: Peachtree Supplies $35M Acquisition Loan for Chicago-Area Retail Center\u00a0<\/a><\/p>\n

The loan and sale both closed Tuesday.<\/p>\n

Newmark<\/a> negotiated the financing with a team led by Jordan Roeshlaub and Nick Scribani. The sale was arranged by Newmark\u2019s Adam Spies, Doug Harmon, Adam Doneger, Josh King, Marcella Fasulo and Avery Silverstein.\u00a0<\/p>\n

CO reported<\/a> in late October that the sale to David Werner and 601W was \u201cimminent\u201d with the new owners considering a partial residential conversion of the 532,000-square-foot Midtown East office building.\u00a0<\/p>\n

The vacant upper floors could be converted to residential use or would be ideal for an office user seeking a contiguous block of space, according to a source familiar with the deal. Current anchor tenants at 205 East 42nd include City University of New York, Fedcap Rehabilitation Services and United Way of New York City.\u00a0<\/p>\n

David Werner has been targeting<\/a> other office-to-resi transformations in partnership with MetroLoft Management at neighboring buildings at 675 Third Avenue along with 235 East 42nd Street<\/a> and 219 East 42nd Street<\/a>.\u00a0<\/p>\n

David Werner Real Estate Investments, 601W and Newmark did not immediately return requests for comment.<\/p>\n

Andrew Coen can be reached at acoen@commercialobserver.com<\/a>.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"A joint venture between David Werner Real Estate Investments and 601W Companies has sealed $100 million of acquisition…\n","protected":false},"author":2,"featured_media":37830,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[10909,10910,10912,22114,10913,75,84,83,10914,9,24,22115,63],"class_list":{"0":"post-37829","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-manhattan","8":"tag-adam-doneger","9":"tag-adam-spies","10":"tag-doug-harmon","11":"tag-jordan-roeschlaub","12":"tag-josh-king","13":"tag-manhattan","14":"tag-manhattan-headlines","15":"tag-manhattan-news","16":"tag-marcella-fasulo","17":"tag-new-york","18":"tag-new-york-city","19":"tag-nick-scribani","20":"tag-nyc"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/37829","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=37829"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/37829\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/37830"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=37829"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=37829"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=37829"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}