NGKF Scores $59M Refi for Greenwich Village Assets

By Corina Stef

827-831 Broadway, New York City

NGKF Capital Markets has arranged a $59 million financing for three mixed-use buildings located in Lower Manhattan’s Greenwich Village. LoanCore Capital provided the mortgage, which bears a variable interest rate, paying off a $32 million loan that helped finance the owners’ acquisition of the property in 2015 for a reported $59.7 million, public records show. The assets, located at 827 Broadway, 831 Broadway and 47 E. 12^th St., are jointly owned by Samson Klugman’s Quality Capital and Leo Tsimmer’s Caerus Group. NGKF’s Jordan Roeschlaub and Daniel Fromm brokered the loan.

According to PropertyShark, the three four-story adjoining buildings were constructed in 1910 and total 36,479 square feet of mixed-use space. The front views feature 75 feet of retail on Broadway and 28 feet of retail on East 12^th St. The upper two floors are vacant residential properties currently undergoing renovations. According to permits filed with the county’s board, the owners plan to construct a 70,000-square-foot mixed-use, 14-story tower with retail space on the first three floors and office space from the fourth through the 14^th floors. The retail units are currently occupied by Nu New York clothing store and Halstead Property. The buildings are located just south of Union Square, in the vicinity of retailers, restaurants, fitness centers, hotels and theaters.

Image via GoogleMaps