 The loan had a term of five years and was interest-only for the entire term and also included a $45 million junior loan in the form of mezzanine capital.At the time, an appraisal valued the property at $730 million since the building was 96.4% occupied and generating net cash flows of over $52 million a year.In January 2007, Tishman Speyer, along with the German investment firm TMW, announced the sale of the building to Kushner Properties for $1.8 billion (about $ billion in ), at the time the highest price ever paid for an individual building in Manhattan.