SoHo Mixed-Use Trophy Building Lands $216M Refi

October 16, 2026

Finance Mixed Use New York News More Northeast Office Retail

The refinancing follows a 2025 debt restructuring.

Exterior of the Prince Building in Manhattan — The mixed-use property at 568 Broadway in Manhattan’s SoHo neighborhood comprises office and retail space. Image courtesy of Aurora Capital, Allied Partners and A&H Acquisitions.

A joint venture between Aurora Capital, Allied Partners and A&H Acquisitions has refinanced 568 Broadway, a 12-story, 390,745-square-foot office and retail building in Manhattan’s SoHo neighborhood with a $216 million bridge loan from ACORE Capital.

Also known as the Prince Building, 568 Broadway has approximately 70,870 square feet of retail space that is fully leased to Hugo Boss, Athletic Propulsion Labs, GU and Equinox. Retail occupies the first through third floors. There is also retail space on the fifth floor along with office space, according to Yardi Matrix information.

The office component is leased to a mix of tenants including Zocdoc, The Farmer’s Dog and Milk Makeup. Offices are also located on the fourth and sixth through 12^th floors.

Originally built in 1897, the building had cosmetic renovations in 1988, 1991, 2003 and 2013 and a recent upgrade. Floor plates range from 20,773 square feet to 28,191 square feet, Yardi Matrix shows.

Walker & Dunlop Capital Markets Institutional Advisory served as exclusive advisor to the joint venture and arranged the financing. The team included Senior Managing Directors Aaron Appel, Dustin Stolly, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Sean Reimer along with Managing Director Jordan Casella and Associate Stanley Cayre.

Longtime ownership

Allied Partners acquired the building in March 2003 for $87.5 million from Winthrop Realty Trust, according to Yardi Matrix. In September 2012, the property became subject to a $200 million CMBS loan from U.S. Bank, the same source shows. The loan, which had a maturity date of Oct. 6, 2026, had been on a servicer’s watch list since July 2024, Yardi Matrix reported.

Walker & Dunlop arranged a restructuring of the $200 million loan in February 2025, New York Yimby reported. The loan restructuring provided capital to make an estimated $50 million in upgrades to the more than century-old building. The improvements, designed by Studios Architects, included new lobbies, elevator modifications and a new roof deck, according to the New York Post.

SoHo reigns as sought-after mixed-use neighborhood

Located at the corner of Broadway and Prince Street, 568 Broadway sits along SoHo’s busy retail corridor, surrounded by fashion, technology, media and wellness tenants.

In December 2025, Empire State Realty Trust acquired 555 Broadway and the adjacent 557 Broadway in a portfolio transaction for a total of $386 million. Publisher Scholastic Inc. sold the assets in an all-cash sale-leaseback transaction. Scholastic reduced its footprint at the building but is still leasing 220,000 square feet of office space under a long-term deal.

Flex office provider Convene Hospitality Group opened its 16^th location at 555 Broadway in April. The meeting and event space spans 32,000 square feet across the second floor.

Despite that activity, Stolly said in prepared remarks SoHo remains one of Manhattan’s most supply-constrained office and retail submarkets, with limited large-block inventory and minimal new competitive supply.