{"id":1004407768,"date":"2020-04-03T02:21:06","date_gmt":"2020-04-03T10:21:06","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004407768"},"modified":"2020-04-03T02:21:06","modified_gmt":"2020-04-03T10:21:06","slug":"home-of-1st-new-york-apple-store-gets-75m-refi","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/home-of-1st-new-york-apple-store-gets-75m-refi\/","title":{"rendered":"Home of 1st New York Apple Store Gets $75M Refi"},"content":{"rendered":"<div id=\"attachment_1004407774\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/04\/103-Prince-St.-Image-via-Google-Street-View.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004407774\" data-attachment-id=\"1004407774\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/home-of-1st-new-york-apple-store-gets-75m-refi\/103-prince-st-image-via-google-street-view\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/04\/103-Prince-St.-Image-via-Google-Street-View.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Jeffrey Hamann&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1585914254&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;1&quot;}\" data-image-title=\"103 Prince St. Image via Google Street View\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;103 Prince St. &lt;i&gt;Image via Google Street View&lt;\/i&gt;&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/04\/103-Prince-St.-Image-via-Google-Street-View.jpg?w=800\" class=\"wp-image-1004407774 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/04\/103-Prince-St.-Image-via-Google-Street-View.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/04\/103-Prince-St.-Image-via-Google-Street-View.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/04\/103-Prince-St.-Image-via-Google-Street-View.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/04\/103-Prince-St.-Image-via-Google-Street-View.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004407774\" class=\"wp-caption-text\">103 Prince St. <i>Image via Google Street View<\/i><\/p><\/div>\n<p>Centurion Realty has taken a $75 million refinancing package from Cr\u00e9dit Agricole for a 28,400-square-foot retail property at 103 Prince St. in SoHo, according to public records. The new loan pays down a $47.1 million mortgage taken from Safra National Bank of New York in January 2012.<\/p>\n<p>The two-story, single-tenant building is home to New York\u2019s first Apple store. When the tenant opened its space in mid-2002, it was the largest of the tech giant\u2019s shops worldwide. The property\u2019s location is in the heart of SoHo, two blocks from the Prince Street subway station and surrounded by high-end retailers including Louis Vuitton, Polo Ralph Lauren and Dior.<\/p>\n<p>The owner had joined forces with Crown Acquisitions and Imperium Capital to acquire the 103 Prince as part of a $70.9 million portfolio deal in 2011, according to <em>The Real Deal<\/em>. The building, constructed in 1920, was previously leased to the U.S. Postal Service from 1975 to August 2000, documents recorded with the City of New York show. The property\u2019s features include one loading dock on its frontage with Greene Street and an expansive, 15- by 72-foot skylight in the center of the roof.<\/p>\n<p>The Apple Store closed its doors on March 13, due to concerns surrounding the coronavirus pandemic. One week later, Governor Cuomo issued a directive for all of the state\u2019s nonessential businesses to shut down. As <a href=\"https:\/\/www.commercialsearch.com\/news\/bracing-for-a-wave-of-missed-retail-rents\/\">retail goes dormant<\/a> across the country, landlords have begun preparing for a wave of lost rental income.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cr\u00e9dit Agricole provided the financing package for Centurion Realty\u2019s 28,000-square-foot SoHo building.<\/p>\n","protected":false},"author":861,"featured_media":1004407774,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,1600,21742,10,21749],"tags":[33752,45323,45746,49096],"class_list":["post-1004407768","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-new-york","category-latest","category-northeast","category-retail","tag-apple","tag-crown-acquisitions","tag-imperium-capital","tag-the-safra-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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