{"id":1004314859,"date":"2019-04-08T04:06:13","date_gmt":"2019-04-08T12:06:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004314859"},"modified":"2021-05-15T04:22:12","modified_gmt":"2021-05-15T12:22:12","slug":"hidrock-secures-32m-refi-for-manhattan-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hidrock-secures-32m-refi-for-manhattan-asset\/","title":{"rendered":"Hidrock Secures $32M Refi for Manhattan Asset"},"content":{"rendered":"<div id=\"attachment_1004314862\" style=\"width: 240px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/35-W-36th-St.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004314862\" data-attachment-id=\"1004314862\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hidrock-secures-32m-refi-for-manhattan-asset\/35-w-36th-st\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/35-W-36th-St-e1554489426709.png\" data-orig-size=\"659,495\" data-comments-opened=\"0\" 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=\"35 W 36th St\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/35-W-36th-St-e1554489426709.png?w=659\" loading=\"lazy\" class=\"wp-image-1004314862 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/35-W-36th-St.png\" alt=\"\" width=\"230\" height=\"300\"><\/a><p id=\"caption-attachment-1004314862\" class=\"wp-caption-text\">35 W. 36th St.<em> Image courtesy of HFF<\/em><\/p><\/div>\n<p>Hidrock Properties has closed on a $32 million refinancing of its Manhattan office property at 35 W. 36<sup>th<\/sup> St. HFF placed the three-year, floating-rate loan on behalf of Hidrock through Ladder Capital Finance.<\/p>\n<p>The 77,880-square-foot property is a loft-style building that also includes 7,080 square feet of ground-floor retail. Built in 1911, the 12-story building is situated in Midtown between Sixth and Seventh avenues, in an area known as the Garment District. Hidrock acquired the building in 2007 for $28 million from Foremost Real Estate, according to Yardi Matrix data. In 2008, the building underwent a cosmetic renovation.<\/p>\n<p>Tenant amenities at the building include a doorman, 24\/7 key card access and on-site retail such as a caf\u00e9 and kickboxing gym. The building is located close to numerous subway lines, NJ Transit, LIRR, PATH, commuter bus lines and the Metro North.<\/p>\n<p>An HFF debt placement team of Steven Klein, Scott Findlay and Jackie Ferrer represented Hidrock.<\/p>\n<p><em>\u201cWhat drew us to acquire this building in 2007 was its central location and proximity to mass transit, including walking distance to both Grand Central Station and Penn Station,\u201d<\/em> said Abie Hidary, CEO of Hidrock Properties, in prepared remarks.<\/p>\n<p>Last week, an HFF team in New Jersey <a href=\"https:\/\/www.commercialsearch.com\/news\/hff-brokers-8m-industrial-sale-in-nj\/\">facilitated an $8 million<\/a> industrial property sale to Penwood Real Estate Investment Management.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The loft-style office building comprises 77,880 square feet and is located in the Midtown neighborhood. HFF placed the loan through Ladder Capital Finance.<\/p>\n","protected":false},"author":745,"featured_media":1004314862,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,1600,21742,10,21747],"tags":[32792,45101,45104],"class_list":["post-1004314859","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-new-york","category-latest","category-northeast","category-office","tag-hff","tag-hidrock-properties","tag-ladder-capital-finance"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Hidrock Secures $32M Refi for Manhattan Asset - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/hidrock-secures-32m-refi-for-manhattan-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hidrock Secures $32M Refi for Manhattan Asset\" \/>\n<meta property=\"og:description\" content=\"The loft-style office building comprises 77,880 square feet and is located in the Midtown neighborhood. HFF placed the loan through Ladder Capital Finance.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/hidrock-secures-32m-refi-for-manhattan-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-04-08T12:06:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T12:22:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/35-W-36th-St-e1554489426709.png\" \/>\n\t<meta property=\"og:image:width\" content=\"659\" \/>\n\t<meta property=\"og:image:height\" content=\"495\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Holly Dutton\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hidrock-secures-32m-refi-for-manhattan-asset\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hidrock-secures-32m-refi-for-manhattan-asset\\\/\"},\"author\":{\"name\":\"Holly Dutton\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/9259ffaba4775229ae3556b9555e566d\"},\"headline\":\"Hidrock Secures $32M Refi for Manhattan Asset\",\"datePublished\":\"2019-04-08T12:06:13+00:00\",\"dateModified\":\"2021-05-15T12:22:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hidrock-secures-32m-refi-for-manhattan-asset\\\/\"},\"wordCount\":226,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hidrock-secures-32m-refi-for-manhattan-asset\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/04\\\/35-W-36th-St-e1554489426709.png\",\"keywords\":[\"HFF\",\"Hidrock Properties\",\"Ladder Capital Finance\"],\"articleSection\":[\"Finance\",\"New York\",\"News\",\"Northeast\",\"Office\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hidrock-secures-32m-refi-for-manhattan-asset\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hidrock-secures-32m-refi-for-manhattan-asset\\\/\",\"name\":\"Hidrock Secures $32M Refi for Manhattan Asset - 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