Assets
Office · Downtown Manhattan

Brookfield Place NYC

230 Vesey Street, Downtown Manhattan · Built 1985
Partial
Current value
$3.05B
▼ 2.4% 1-yr (modeled)
Cap rate
4.90%
▲ 10 bps vs 4.80% submarket
NOI · derived
$149.4M
Value $/SF
$565
$2.45B$2.62B$2.78B$2.95B$3.11B201920202021202220232024Modeled trajectory — no observed history
sourcedmodeled0 of 6 sourced

Ownership & debt

Ownership graph

Asset → owner → parent → beneficial owner · every edge sourced

Ownership transparency

Recorded chain
Recorded owners
Brookfield Properties (Brookfield Office Properties)
Fee simple
Ultimate beneficial owner — as recorded
Brookfield Property Group / Brookfield Property Partners
Beneficial interest
Brookfield Asset Management / Brookfield Corporation (NYSE: BN)
Beneficial interest
Methodology

Debt

Citigroup, J.P. Morgan Chase, Bank of Nova Scotia, Wells Fargo (co-originators; securitized as LBTY 2026-225L single-asset CMBS)
CMBS (single-asset, single-borrower; 225 Liberty Street tower; 5-year interest-only). Refinanced ~$900M existing debt with $172.5M Brookfield equity contribution. · matures 2031
$800.0M
Deutsche Bank, Royal Bank of Canada, Citibank, Bank of America, Wells Fargo (consortium)
Bank financing on 225 Liberty St. and 250 Vesey St. (2013; $800M initial with $200M draw capacity)
$1.00B
LTV
59.02%
Debt yield
8.30%
Securitized debt — SEC loan tape
No SEC ABS-EE loan-level filing is matched to this asset. Public loan tapes exist only for SEC-registered CMBS — most large-asset debt is 144A-private, balance-sheet or agency financed and files none.

Financials

Modeled from sourced NOI, debt & rent inputs
Current cash-on-cash
11.95%

Tenants & leasing

estimated
Occupancy
91.0%
WALT (area-wtd)
10.5 yrs
Top-3 concentration
78%
Bank of AmericaInvescoBNY MellonJane Street
Per-tenant lease detail arrives with disclosed stacking plans.
Top 4 of ~32 tenants shown. Occupancy / WALT / concentration are whole-building estimated figures.

Underwriting

Assumptions — user inputs, not sourced data: 5-year hold · exit cap +25 bps vs today · 3.0% NOI growth per year.
Assumptions — user inputs, not sourced data
Hold period
Exit cap vs today
+25 bps
NOI growth / yr
3.0%
Unlevered IRR
7.1%
Levered IRR
16.6%
Equity multiple
1.90×
Exit cap
5.15%
Exit value
$3.36B
Exit NOI
$173.2M
Levered IRR sensitivity — exit cap Δ × NOI growth
Exit Δ2.0%2.5%3.0%3.5%4.0%
-25 bps18.2%19.2%20.2%21.1%22.1%
0 bps16.3%17.3%18.3%19.3%20.3%
+25 bps14.5%15.5%16.6%17.6%18.6%
+50 bps12.7%13.8%14.8%15.9%16.9%
+75 bps11.0%12.1%13.2%14.2%15.3%
Modeled output — not investment advice. Derived from the assumptions above, not sourced claims.

Provenance footnotes

  1. Current value: Estimated — no sourced claim on file.
  2. Cap rate: Estimated — no sourced claim on file.
  3. NOI: Estimated — no sourced claim on file.
  4. $/SF: Estimated — no sourced claim on file.
  5. GLA: Estimated — no sourced claim on file.
  6. Ownership — Brookfield Properties (Brookfield Office Properties): Single source — commercialobserver.com · https://commercialobserver.com/2026/02/brookfield-properties-225-liberty-street/
  7. Debt — Citigroup, J.P. Morgan Chase, Bank of Nova Scotia, Wells Fargo (co-originators; securitized as LBTY 2026-225L single-asset CMBS): Single source — commercialobserver.com · https://commercialobserver.com/2026/02/brookfield-properties-225-liberty-street/
  8. Debt — Deutsche Bank, Royal Bank of Canada, Citibank, Bank of America, Wells Fargo (consortium): Single source — bpy.brookfield.com · https://bpy.brookfield.com/press-releases/bpo/brookfield-office-properties-closes-1-billion-financing-brookfield-place-new
  9. Tenant — Bank of America: Single source — commercialobserver.com · https://commercialobserver.com/2026/02/brookfield-properties-225-liberty-street/
  10. Tenant — Invesco: Single source — commercialobserver.com · https://commercialobserver.com/2026/02/brookfield-properties-225-liberty-street/
  11. Tenant — BNY Mellon: Single source — bpy.brookfield.com · https://bpy.brookfield.com/press-releases/bpo/brookfield-office-properties-announces-350000-square-foot-lease-bny-mellon
  12. Tenant — Jane Street: Single source — nyc.urbanize.city · https://nyc.urbanize.city/post/brookfield-extends-manhattan-lease-15b-deal

Modeled figures — LTV, debt yield, DSCR, cash-on-cash, occupancy, WALT, tenant concentration and every underwriting output are derived arithmetic, not sourced claims. Underwriting outputs follow the assumptions printed in the panel — user-editable inputs, not observations. Not investment advice.

Anchoring begins when the asset enters the live ledger.