Manhattan Office Asset Lands $48M
- Jan 11, 2018
Meridian Capital Group has arranged $48 million in CMBS financing for an office building in Manhattan’s Soho neighborhood. The 10-year loan features full-term interest-only payments. Meridian’s Vice President Isaac Filler negotiated the financing.
Located at 64 Wooster St., the property was built in 1900 and is situated on one of Manhattan’s signature cobblestone streets. Asset features include large windows, four elevators and detailed carvings on the facade. Currently housing 10 tenants, the transit-oriented building offers close proximity to the A, C, E and 6 subways at the Spring Street Station, N, W and R at the Prince Street Station and the 1 at Canal Street Station.
“Assets such as 64 Wooster are not only iconic but irreplaceable and will continue to be sought by lenders given the high demand and limited supply of boutique office space in Soho,” said Filler, in a prepared statement.
Last month, Meridian Capital Group secured a $68 million bridge loan for a Class A office building in Los Angeles, on behalf of J. H. Snyder Co.
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