Zar family lands $170M loan for Times Sq. office tower

  The Zar family refinanced its office tower at 1450 Broadway with a $170 million loan from Goldman Sachs. The family’s Zar Group bought the 42-story, 400,200-square-foot Times Square tower for $204 million in 2011. The new loan includes a $67.4 million gap mortgage and replaces a $114 million loan from UBS Real Estate Securities, of which $102.6 million was outstanding. The Zar Group, not to be confused with David Zar’s Zar Property NY, is […]

Source: Real Estate

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