2 Manhattan West
This is a top-tier institutional refinancing transaction secured against 2 Manhattan West, a newly delivered Class A trophy office tower in the Hudson Yards submarket, one of Manhattan's strongest and most supply-constrained office corridors. The $1.9B loan at $950 per square foot is consistent with comparable trophy office financings in the submarket and reflects strong lender conviction from Wells Fargo, a repeat institutional lender in this asset class. The $273M cash-out component signals robust equity value and sponsor confidence, and the CMBS warming narrative suggests improving capital markets conditions for premium Manhattan office. Brookfield and QIA represent arguably the strongest possible sponsorship profile in global institutional real estate, with deep track records, sovereign capital backing, and a proven history of executing at this scale in this exact submarket. The sole risk factors are macro-level: continued remote/hybrid work headwinds for the broader office sector and elevated interest rate sensitivity at this leverage quantum, though trophy Hudson Yards assets have demonstrated substantially stronger occupancy and rent resilience than the broader NYC office market.
Deal Stats
Parties
Buyer / Tenant
Brookfield Properties is one of the world's largest commercial real estate operators with a multi-decade track record of developing and managing Class A office assets globally, including the Hudson Yards and Manhattan West master-planned developments. Qatar Investment Authority is a sovereign wealth fund with an estimated $500B+ AUM that has consistently co-invested in marquee global real estate alongside institutional partners such as Brookfield.
Score Analysis
Why this score
Sponsorship Quality
Brookfield's proven Hudson Yards execution track record and QIA's $500B+ sovereign backing represent institutional-grade creditworthiness and development expertise in this specific submarket.
Asset Class Risk
Manhattan office sector faces structural headwinds from remote/hybrid work adoption, creating demand uncertainty despite this tower's trophy status.
Pricing Discipline
The $950/SF loan amount aligns with recent comparable trophy office refinancings, indicating realistic underwriting rather than stretched leverage.
Interest Rate Sensitivity
At $1.9B scale with elevated rate environment, the deal carries meaningful refinance risk if market conditions deteriorate or occupancy softens.
Submarket Resilience
Hudson Yards' supply constraints and Class A concentration have historically outperformed broader NYC office markets during downturns.
How to improve
The following actions could meaningfully improve this deal's Homage score. Each suggestion is based on the deal's profile, asset type, and current rating — addressing them before approaching a lender can increase approval likelihood and lower borrowing costs.
Obtain explicit occupancy and rent roll data
Current occupancy rate, average rent per square foot, and tenant credit quality would directly validate the trophy asset thesis against macro office headwinds.
Clarify cash-out deployment plan
Specificity on whether the $273M cash-out funds sponsor capital calls, equity distributions, or reinvestment would reduce refinance risk perception.
Disclose lender identity and appetite signals
While Wells Fargo is named, confirmation of loan terms, duration, and evidence of competitive bidding would strengthen conviction in market liquidity.
Raw Deal Textclick to expand
Submit Growing Financial Partnerships For Over 30 Years. Get Started Deals New York Office Loan 2 Manhattan W Daily limit: 8/10 Brookfield And Qatar Investment Authority Secure $1.9B Refinancing At 2 Manhattan West With Wells Fargo FINANCED $1,900,000,000 CT 2,000,000 SF Financed 2 weeks ago the deal players comps contact related Summary NEW YORK Asset Type: Price Per Square Foot: $950 Total Square Footage: Transaction Type: 2 Manhattan West is an office asset located in the Hudson Yards market, encompassing 2,000,000 square feet. The property involved in this transaction is associated with a refinancing amounting to $1,900,000,000. Summary of transaction details: Property Type: Office Transaction Amount: $1,900,000,000 Lender: Wells Fargo Landlord: Connor Teskey - Brookfield & Qatar Investment Authority Brokers: Jordan Roeschlaub & Nick Scribani - Newmark Loan Type: Refinance The refinancing deal at 2 Manhattan West represents a partnership between Brookfield and Qatar Investment Authority, and it is part of a broader trend as CMBS shows renewed interest in Midtown Manhattan office properties. The deal includes a cash-out of $273,000,000, following a similar near-$2 billion refinancing at 9 West 57th Street. See More Players All Brokers Landlords | Tenants Lenders Nick Scribani 190 deals $55B volume (212) 372-2113 BROKER Jordan Roeschlaub 320 deals $96.1B volume Wells Fargo LENDER Connor Teskey 1 deal $1.9B volume LANDLORD Brookfield Properties QA Qatar Investment Authority Details Deal Summary IMAGE: Jordan Roeschlaub, Connor Teskey & Nick Scribani DATE: 05/13/2026 ADDRESS: 2 Manhattan West MARKET: Hudson Yards ASSET TYPE: Office ~ SF: 2,000,000 LENDER: Wells Fargo (@WellsFargo) LANDLORD: Connor Teskey - Brookfield & Qatar Investment Authority BROKERS: Jordan Roeschlaub (@JordyRoeschlaub) & Nick Scribani (@ScribSays) - Newmark (@Newmark) LOAN AMOUNT: $1,900,000,000 LOAN TYPE: Refinance NOTE: CMBS is warming back up to Midtown Manhattan office as Brookfield and Qatar Investment Authority secure a $1.9B refinancing for 2 Manhattan West in a Wells Fargo-led deal, following another near-$2B refi at 9 West 57th Street and delivering a $273M cash-out. Email New York | @tradedny Comps 10 These are similar deals based on proximity and similarity to the subject deal. Jeff T. Blau And Oxford Properties Secure $1.6B Loan For 70 Hudson Yards In Manhattan New York | Office 01/05/2026 Brookfield Properties Refinances Five Manhattan West Office Tower With $1.25B Loan In Hudson Yards New York | Office | PPSF: $7 10/01/2025 Brookfield Secures $1.25 Billion Refinance Loan For 5 Manhattan West Office Building New York | Office | PPSF: $735 + 2 09/26/2025 RXR Refinances Times Square Office Building With $1.3B Loan From Morgan Stanley And Apollo Global Management Inc New York | Office | PPSF: $1150 + 1 09/06/2022 Wells Fargo, J.P. Morgan Chase, And Bank Of America Provide $1.3B Refinance Loan For Durst Organization 08/06/2025 Brookfield Property Partners & Swig Company Secure $1.3B Loan For Midtown Office Building New York | Office | PPSF: $866 11/05/2020 $1.4 Billion Refinance Secured By SL Green And PGIM Real Estate At 11 Madison Avenue New York | Office | PPSF: $608 + 7 09/17/2025 Marc Holliday Of SL Green And Jacques Chappuis Of PGIM Close $1.4B Loan At 11 Madison Avenue 09/12/2025 Marc Holliday Secures $1.65 Billion Refinance Loan For 1 Madison Avenue In Manhattan New York | Office | PPSF: $1178 + 3 03/25/2026 RXR Realty's Scott Rechler Secures $1.45 Billion Loan From Apollo Global Management For 1211 6th Avenue New York | Office | PPSF: $725 10/07/2025 Contact Get in touch with the broker you want Select Brokers Jordan (Jordy) Roeschlaub, Nick Scribani, Connor Teskey Name Phone (optional) Message I'm an agent Similar Lenders These are similar lenders of Office properties in this price range based on this deal Unlock All Profiles Unlimited deal views Access investor profiles & contacts Exclusive comps & market data These are similar brokers based on this deal Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map. NEW! Search No recent news available for this market No active listings available for this market Suggestions Analyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results. Deal Type SALE LOAN LEASE Property Value Current Loan Balance Net Operating Income (Annual) Loan-to-Value (%) Interest Rate (%) Amortization Period 30 years Loan Term 10 years Reset Debt Service Coverage Ratio (DSCR) 1.05x Max Loan Amount $1,900,000,000.00 Monthly NOI $12,666,666.67 Monthly Debt Service $12,009,292.45 Change in Cash Flow $0.00 Refinance Proceeds Is there something missing? Send suggestions We are telling CRE's story Traded is the #1 source for cutting edge CRE transactions & insights. 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