Mack Real Estate Becomes New Owner of the Brill Building

According to city records, the landmarked Brill Building at 1619 Broadway has a new owner. Brookfield Asset Management has turned over the approximately 177,892-square-foot office building to lender Mack Real Estate Capital for roughly $216.103 million, having provided a $144.429 million loan to Brookfield to refinance and consolidate existing debt in 2019. Brookfield’s real estate debt fund had similarly foreclosed on the full ownership interest back in 2017 for just over $213.165 million — typically the amount of the existing total debt, upon the owners at the time failing to make a $5.6 million payment on a $60 million mezzanine loan provided by the Toronto-based firm.

2017 Source: