Manhattan Retail Asset Lands $32M Refi
- Jul 06, 2016
By Ioana Neamt
New York—HFF has arranged $32.1 million in financing for 200 West End Ave., on Manhattan’s Upper West Side.
An HFF debt placement team led by Managing Director Rob Rizzi and Director Jennifer Keller worked on behalf of Gerald Brauser and Steven Brauser of The Parkland Group. The team placed the 15-year, fixed-rate loan for the fully leased retail condominium with MetLife.
“The 200 West End Avenue retail condo is strategically positioned in a densely populated neighborhood with significant demand for essential products and services,” Keller said in a statement. “This long-term financing was locked in a historically low interest rate environment and is an ideal match for the property’s strong, stable cash flow and limited rollover.”
Built in 2008, the 29-story building features 191 luxury apartments and roughly 25,446 square feet of retail space, leased to four tenants: CVS Pharmacy, Bin 70, Apple Seeds and Beverly Hills Dry Cleaners. The building’s location provides significant exposure along West End Avenue and West 70th Street.
Image courtesy of 200 West End Avenue NYC