Another Manhattan skyscraper is being financed in the commercial mortgage bond market.

This time it’s 375 Hudson Street, a 19-story Class A building with LEED Gold certification and a concentrated tenant roster. Saatchi & Saatchi, the largest tenant, leases 63.7% of the total net rentable area and contributes 64.3% of the total base rent, as measured by DBRS; its lease expires in January 2023. Penguin Random House, the second largest tenant, occupies 27.4% of the total net rentable area and contributes 33.4% of the total base rent, with a lease expiring in March 2025.

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