The top 10 Manhattan loans recorded in November totaled $2.9 billion, with three loans worth more than $400 million for the first time this year. In another 2018 first, the top three loans were provided by three foreign lenders: Deutsche Bank, Bank of China and Sumitomo Mitsui Trust Bank.
1) Deutsche Back – $750 million
Macklowe Properties secured a $750 million construction loan from Deutsche Bank for One Wall Street. This replaces a $460 million acquisition loan that Deutsche had previously issued on behalf of Qatar National Bank. Though Macklowe had been negotiating for a $850 million loan from JPMorgan Chase for over a year, they ultimately went back to Deutsche, who offered a smaller sum at a lower interest rate.