{"id":1004456938,"date":"2020-06-18T00:47:12","date_gmt":"2020-06-18T08:47:12","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004456938"},"modified":"2020-06-21T22:08:40","modified_gmt":"2020-06-22T06:08:40","slug":"manhattan-coworking-building-changes-hands","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/manhattan-coworking-building-changes-hands\/","title":{"rendered":"Manhattan Coworking Building Changes Hands"},"content":{"rendered":"<div id=\"attachment_1004456944\" style=\"width: 250px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/06\/The-Assemblage-NoMad.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004456944\" data-attachment-id=\"1004456944\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/manhattan-coworking-building-changes-hands\/the-assemblage-nomad\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/06\/The-Assemblage-NoMad.jpg\" data-orig-size=\"640,800\" 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=\"The Assemblage &#8211; NoMad\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;The Assemblage &#8211; NoMad&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/06\/The-Assemblage-NoMad.jpg?w=640\" class=\"wp-image-1004456944 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/06\/The-Assemblage-NoMad.jpg\" alt=\"\" width=\"240\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/06\/The-Assemblage-NoMad.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/06\/The-Assemblage-NoMad.jpg?resize=240,300 240w\" sizes=\"auto, (max-width: 240px) 100vw, 240px\" \/><\/a><p id=\"caption-attachment-1004456944\" class=\"wp-caption-text\">The Assemblage NoMad<\/p><\/div>\n<p>Shorewood Real Estate Group has sold The Assemblage NoMad, a 48,000-square-foot office building in Manhattan, for $41.3 million, according to public records. The buyer assumed the existing debt on the building, a $35 million loan provided by Arbor Realty Trust in 2018. The note matures in July.<\/p>\n<p>Located at 114 E. 25th St., the property\u2014originally an industrial structure\u2014was originally completed in 1921. Yardi Matrix shows that, in 2017, Shorewood redeveloped the industrial warehouse into office space designed by Mancini Duffy, transforming the nearly century-old structure into coworking space. Amenities include meditation and conference rooms, a rooftop garden and 4,000 square feet of retail.&nbsp;<\/p>\n<p>The transit-oriented, Midtown Manhattan property is 15 miles from John F. Kennedy International Airport. The site is 1 mile from the 32,270-square-foot Lord Memorial Building, which <a href=\"https:\/\/www.commercialsearch.com\/news\/childrens-aid-sells-manhattan-office-building\/\">traded for $28.3 million<\/a> at the end of May. Children\u2019s Aid sold the asset to Habib American Bank, which will operate its new headquarters inside the structure.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As part of the deal, the buyer assumed a $35 million loan Arbor Realty Trust had provided in 2018.<\/p>\n","protected":false},"author":867,"featured_media":1004456947,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21783,1600,21742,10,21747],"tags":[33971,48602,42461,35130,49594],"class_list":["post-1004456938","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-investment","category-new-york","category-latest","category-northeast","category-office","tag-adaptive-reuse-projects","tag-arbor-realty-trust","tag-coworking","tag-mancini-duffy","tag-shorewood-real-estate-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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