HFF Closes $44M Refinancing for Manhattan Retail Condo
- Nov 01, 2010
November 1, 2010
By Allison Landa, News Editor
The New York office of Holliday Fenoglio Fowler L.P. has secured a $44 million 10-year fixed-rate loan with Prima Capital Advisors on behalf of ABC Management Corp. The refinancing is on a retail condominium at 599 Broadway in Manhattan’s SoHo area.
Located at the intersection of Broadway and Houston Street in the Cast Iron Historic District, the property includes the first three floors and lower level retail space of the 12-story building. HFF managing director Evan Pariser and senior real estate analyst Todd Newman handled the deal.
According to Pariser, the refinancing was the culmination of a long-term repositioning of the property. He asserted that 599 Broadway is one of the best retail locations in SoHo.
Retailer American Eagle, which subleases the ground, second floor, and lower-level spaces through a 15-year lease, is scheduled to open a flagship store there this month.