**Fosun Secures $900M Refinancing for 28 Liberty Street Amid Leasing Momentum**
Fosun International has secured a $900 million refinancing for 28 Liberty Street, its iconic 60-story, 2.1 million-square-foot office tower located in Manhattan’s Financial District. This financing milestone comes on the heels of a significant lease expansion by fintech firm Stripe, which added 139,497 square feet to its footprint, pushing the building’s occupancy to 93%.
The refinancing was arranged by a Cushman & Wakefield team including Gideon Gil, Zachary Kraft, and Cecelia Galligan from New York, along with Rob Rubano, Brian Share, Joseph Lieske, and Ernesto Sanchez out of Los Angeles. The structure of the new financing is a three-year, interest-only CMBS (Commercial Mortgage-Backed Securities) loan co-originated by JPMorgan Chase, German American Capital, and Goldman Sachs. This new loan replaces $895 million in existing debt.
The deal reflects growing confidence among both lenders and tenants in Manhattan’s recovering office market. Since early 2024, 28 Liberty Street has seen strong leasing activity, with 14 new deals totaling 438,000 square feet, according to Cushman & Wakefield.
The refinancing represents a strong vote of confidence in the future of Lower Manhattan’s commercial real estate landscape.
