{"id":1004152421,"date":"2016-09-14T06:29:41","date_gmt":"2016-09-14T14:29:41","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004152421"},"modified":"2020-05-12T03:25:16","modified_gmt":"2020-05-12T11:25:16","slug":"hff-closes-26m-refi-for-manhattan-office-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hff-closes-26m-refi-for-manhattan-office-asset\/","title":{"rendered":"HFF Closes $26M Refi for Manhattan Office Asset"},"content":{"rendered":"<p><em>By Adelina Osan, Associate Editor<\/em><\/p>\n<p><strong>New York<\/strong>\u2014<a href=\"https:\/\/www.hfflp.com\/\" rel=\"nofollow\">HFF<\/a> recently arranged a $25.5 million refinancing for a 79,750-square-foot office building located in the Garment District of Manhattan.<\/p>\n<div id=\"attachment_1004152423\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Aerial-photo-of-35-West-36th-Street.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004152423\" data-attachment-id=\"1004152423\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hff-closes-26m-refi-for-manhattan-office-asset\/aerial-photo-of-35-west-36th-street\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Aerial-photo-of-35-West-36th-Street.jpg\" data-orig-size=\"1135,741\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Adelina Osan&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1473853134&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=\"Aerial photo of 35 West 36th Street\" data-image-description=\"&lt;p&gt;Aerial photo of 35 West 36th Street&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Aerial photo of 35 West 36th Street&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Aerial-photo-of-35-West-36th-Street.jpg?w=1024\" class=\"wp-image-1004152423 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Aerial-photo-of-35-West-36th-Street.jpg\" alt=\"Aerial photo of 35 West 36th Street\" width=\"300\" height=\"196\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Aerial-photo-of-35-West-36th-Street.jpg 1135w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Aerial-photo-of-35-West-36th-Street.jpg?resize=300,196 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Aerial-photo-of-35-West-36th-Street.jpg?resize=768,501 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Aerial-photo-of-35-West-36th-Street.jpg?resize=1024,669 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004152423\" class=\"wp-caption-text\">Aerial photo of 35 West 36th Street<\/p><\/div>\n<p>HFF worked on behalf of the borrower, a joint venture between <a href=\"https:\/\/www.hidrock.com\/\" rel=\"nofollow\" target=\"_blank\">Hidrock Properties<\/a> and an institutional investment partner, to secure the five-year, floating-rate loan through M&amp;T Bank. Managing Director Steven Klein and Director Geoff Goldstein led the HFF debt placement team.<\/p>\n<p>35 West 36th Street was originally built in 1911 and features 72,600 square feet of office space, as well as 7,150 square feet of ground-floor retail space. The 12-story building was fully leased at the time of the announcement and has a diverse tenant roster with no one tenant occupying more than 8.3 percent of the building. The recently refinanced asset sits in close proximity to Herald Square and the Times Square, Grand Central and Midtown South submarkets.<\/p>\n<p><em>Image via Google StreetView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>HFF worked on behalf of Hidrock Properties and an institutional investment partner to close the refinancing of the fully leased building. <\/p>\n","protected":false},"author":735,"featured_media":1004152423,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,1600,21742,10,21747],"tags":[],"class_list":["post-1004152421","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","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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