{"id":1004133220,"date":"2015-12-07T08:22:17","date_gmt":"2015-12-07T16:22:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004133220"},"modified":"2020-04-06T23:15:23","modified_gmt":"2020-04-07T07:15:23","slug":"soho-building-receives-100m-refi-loan","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/soho-building-receives-100m-refi-loan\/","title":{"rendered":"SoHo Building Receives $100M Refi Loan"},"content":{"rendered":"<p><em>By Veronica Grecu, Associate Editor<\/em><\/p>\n<div id=\"attachment_1004133221\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/560-Broadway-Manhattan.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004133221\" data-attachment-id=\"1004133221\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/soho-building-receives-100m-refi-loan\/560-broadway-manhattan\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/560-Broadway-Manhattan.jpg\" data-orig-size=\"1024,680\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"560 Broadway &#8211; Manhattan\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/560-Broadway-Manhattan.jpg?w=1024\" class=\"wp-image-1004133221 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/560-Broadway-Manhattan.jpg\" alt=\"560 Broadway - Manhattan\" width=\"300\" height=\"199\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/560-Broadway-Manhattan.jpg 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/560-Broadway-Manhattan.jpg?resize=300,199 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/560-Broadway-Manhattan.jpg?resize=768,510 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004133221\" class=\"wp-caption-text\">560 Broadway &#8211; Manhattan<\/p><\/div>\n<p>New York\u2014Newmark Holdings, the parent company of\u00a0the Gural family\u2019s real estate investments\u2014including prior ownership of <a href=\"https:\/\/www.ngkf.com\/\" target=\"_blank\" rel=\"nofollow\">Newmark Grubb Knight Frank<\/a> (NGKF)\u2014, closed on a refinancing loan worth $100 million for 560 Broadway, a six-story office building located on one of the busiest intersections in Manhattan.<\/p>\n<p>\u201cWe were able to secure a fixed rate below 3.5% for 10 years in a volatile lending environment with credit spreads increasing,\u201d said Paul Talbot, Senior Managing Director, who represented Newmark Holdings on the loan.<\/p>\n<p>According to a news release, the company worked with <a href=\"https:\/\/www.td.com\/about-tdbfg\/our-business\/index.jsp\" target=\"_blank\" rel=\"nofollow\">TD Bank<\/a> and <a href=\"https:\/\/www.bnymellon.com\/\" target=\"_blank\" rel=\"nofollow\">BNY Mellon<\/a> to secure the financing, which will be used to reposition and upgrade the 115-year-old building located in a heavily trafficked shopping corridor near Prince Street and Broadway.<\/p>\n<p>The 122,454-square-foot property was purchased by Newmark Holdings in 1986. Real estate website <a href=\"https:\/\/www.propertyshark.com\/\" target=\"_blank\" rel=\"nofollow\">PropertyShark<\/a> indicates that the building contains 104,454 square feet of office space and 18,000 square feet of retail space, and is currently fully occupied by a list of tenants including <a href=\"https:\/\/www.converse.com\/\" target=\"_blank\" rel=\"nofollow\">Converse<\/a>\u2014who opened a 7,000-square-foot store in the building in November 2010\u2014, <a href=\"https:\/\/www.deandeluca.com\/\" target=\"_blank\" rel=\"nofollow\">Dean &amp; Deluca<\/a> and <a href=\"https:\/\/lererhippeau.com\/\" target=\"_blank\" rel=\"nofollow\">Lerer Hippeau Ventures<\/a>, a seed stage venture capital fund.<\/p>\n<p><em>Image via PropertyShark<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A six-story office and retail building is set to be repositioned and upgraded with the help of a generous loan.<\/p>\n","protected":false},"author":258,"featured_media":1004133221,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,1600,21742,10,21747],"tags":[],"class_list":["post-1004133220","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-new-york","category-latest","category-northeast","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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