Jul 9, 2025

Jul 9, 2025

99c, Deutsche Bank Lend $61M for David Werner’s 5 Hanover Square Acquisition

99c, Deutsche Bank Lend $61M for David Werner’s 5 Hanover Square Acquisition

A joint venture between David Werner Real Estate Investments and developer Sam Fisch Development has secured $61 million of acquisition financing for a Lower Manhattan office asset that’s slated for a potential residential conversion, Commercial Observer has learned.Real estate investment firm 99c provided a $41 million acquisition and pre-development loan for 266,639 square feet of the upper floors of 5 Hanover Square. Deutsche Bank also supplied a $21 million acquisition loan for five lower floors in the building in a condominium unit occupied by the The Ideal School of Manhattan.

Image of  5 Hanover Square.
Image of  5 Hanover Square.
Image of  5 Hanover Square.

We partner with investors and developers to unlock optimal financing by leveraging our deep network of capital providers and delivering strategies tailored to each opportunity.

We partner with investors and developers to unlock optimal financing by leveraging our deep network of capital providers and delivering strategies tailored to each opportunity.

We partner with investors and developers to unlock optimal financing by leveraging our deep network of capital providers and delivering strategies tailored to each opportunity.

We partner with investors and developers to unlock optimal financing by leveraging our deep network of capital providers and delivering strategies tailored to each opportunity.

We partner with investors and developers to unlock optimal financing by leveraging our deep network of capital providers and delivering strategies tailored to each opportunity.