Later in 2002, Tishman reportedly hired Lazard to market the building for $900 million, although a sale never took place. Two years later, Tishman Speyer obtained a $562.5 commercial mortgage-backed security (CMBS) senior loan from Lehman Brothers and UBS that was split into three different pari passu notes. 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.