Big Apple Store Secures $89M Re-Fi
- Nov 10, 2015
By Ioana Neamt, Associate Editor
A prime retail and office asset in Manhattan’s Meatpacking District has recently reached another milestone.
Working on behalf of Taconic Investment Partners LLC, HFF secured an $89 million refinancing loan for 401 W. 14th St., a mixed-use building anchored by a flagship Apple Store in New York City. HFF placed the 15-year, interest-only, fixed-rate loan with MetLife Inc.
Located at the intersection of Ninth Avenue and 14th Street, right at the “gateway” to the Meatpacking District, the 60,000-square-foot building was acquired by Taconic back in December 2005 and was fully redeveloped two years later. Currently 100 percent leased, the building is home to tenants such as Apple Inc., which occupies 45,000 square feet of retail and office space, Hugo Boss, The Kooples, and Raptor Capital Management.
The mixed-use property sits within a designated historic district, in close proximity to a plethora of dining, shopping and entertainment attractions, including the High Line, the new Whitney Museum, and the Chelsea Market. 401 W. 14th St. is also just two blocks from Google’s East Coast headquarters at 111 Eighth Avenue.
Photo courtesy of Taconic Investment Partners