Trinity Real Estate paid $580 million for Tishman Speyer’s leasehold on 375 Hudson Street, property records show.
The Real Deal reported last week that the real estate arm of Trinity Church bought the Hudson Square office building, but at the time the sales price was not known. Trinity already owns the land under the property, which Tishman Speyer built in 1987.
A Goldman Sachs affiliate funded the deal with a $400 million loan brokered by Cushman & Wakefield. Eastdil Secured brokered the purchase.
The 19-story property includes 1.1 million rentable square feet of office space and is currently 100 percent leased. Advertising agency Saatchi & Saatchi occupies the majority of the space.