{"id":1004354582,"date":"2019-09-24T04:31:25","date_gmt":"2019-09-24T12:31:25","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004354582"},"modified":"2019-09-24T04:54:19","modified_gmt":"2019-09-24T12:54:19","slug":"newmark-knight-frank-arranges-200m-refi-for-888-broadway","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/newmark-knight-frank-arranges-200m-refi-for-888-broadway\/","title":{"rendered":"Newmark Knight Frank Arranges $200M Refi for Manhattan Property"},"content":{"rendered":"
\"\"<\/a>

888 Broadway<\/p><\/div>\n

Newmark Knight Frank has arranged a $200 million floating-rate loan for the refinancing of 888 Broadway in Manhattan, on behalf of Affiliates of Normandy Real Estate Partners and Invesco Real Estate.<\/p>\n

Newmark Knight Frank\u2019s Debt and Structured Finance team was led by Vice Chairmen & Co-Heads Dustin Stolly and Jordan Roeschlaub, along with Nick Scribani, Chris Kramer, Dylan Kane and John Gallagher. TPG provided the loan.<\/p>\n

Built in 1882, the 10-story, 221,312-square-foot property is newly renovated and consists of two connected office buildings: 888 Broadway and 38 E. 19th<\/sup> St. The asset includes the fee simple interest in the office condominium of 888 Broadway and the leasehold interest of the adjoining 38 E. 19th<\/sup> St.<\/p>\n

According to Yardi Matrix data, the landlord recently signed leases with Netflix for 100,000 square feet<\/a>, with Atlassian for 34,000 square feet and with ABC Carpet & Home for the ground retail space. The latter is also the property\u2019s previous owner, which held the asset from 1985 until 2017 when it sold it to Normandy Real Estate Partners in a portfolio deal.<\/p>\n

After the acquisition, the new owner began a comprehensive redevelopment program to reposition the property as a Class A\u2014currently rated as Class B\u2014trophy office, including a new penthouse and roof deck, a completely redesigned office lobby entrance and new building infrastructure.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company’s Debt and Structured Finance team facilitated the recapitalization of two connected office buildings totaling more than 220,000 square feet.<\/p>\n","protected":false},"author":237,"featured_media":1004318288,"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":[33882,36007,33267],"class_list":["post-1004354582","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-new-york","category-latest","category-northeast","category-office","tag-invesco-real-estate","tag-newmark-knight-frank","tag-normandy-real-estate-partners"],"acf":[],"yoast_head":"\nNewmark Knight Frank Arranges $200M Refi for Manhattan Property - 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\/newmark-knight-frank-arranges-200m-refi-for-888-broadway\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Newmark Knight Frank Arranges $200M Refi for Manhattan Property\" \/>\n<meta property=\"og:description\" content=\"The company's Debt and Structured Finance team facilitated the recapitalization of two connected office buildings totaling more than 220,000 square feet.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/newmark-knight-frank-arranges-200m-refi-for-888-broadway\/\" \/>\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=\"2019-09-24T12:31:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-09-24T12:54:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/888-Broadway.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/newmark-knight-frank-arranges-200m-refi-for-888-broadway\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/newmark-knight-frank-arranges-200m-refi-for-888-broadway\/\",\"name\":\"Newmark Knight Frank Arranges $200M Refi for Manhattan Property - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/newmark-knight-frank-arranges-200m-refi-for-888-broadway\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/newmark-knight-frank-arranges-200m-refi-for-888-broadway\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/888-Broadway.jpg\",\"datePublished\":\"2019-09-24T12:31:25+00:00\",\"dateModified\":\"2019-09-24T12:54:19+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/newmark-knight-frank-arranges-200m-refi-for-888-broadway\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/newmark-knight-frank-arranges-200m-refi-for-888-broadway\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/newmark-knight-frank-arranges-200m-refi-for-888-broadway\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/888-Broadway.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/888-Broadway.jpg\",\"width\":1000,\"height\":800,\"caption\":\"888 Broadway. 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