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October 18, 2017
Cadwalader represented New York REIT Inc. in the $514.1 million sale of three fully leased office buildings in the Chelsea neighborhood of Manhattan, including the building that houses Twitter Inc.’s New York headquarters, to Columbia Property Trust. In connection with the sale, New York REIT paid down approximately $348 million of debt under the company’s $760 million cross collateralized and secured loan, for which the properties were part of the collateral.
The Cadwalader team was led by real estate partner Steven Herman and included special counsel Loren Taub and associate Andrea Weitzman.
