{"id":1004760182,"date":"2025-06-02T22:31:51","date_gmt":"2025-06-03T06:31:51","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004760182"},"modified":"2025-10-07T23:47:32","modified_gmt":"2025-10-08T07:47:32","slug":"greystone-lands-refi-for-manhattan-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/greystone-lands-refi-for-manhattan-building\/","title":{"rendered":"Greystone Lands Refi for Manhattan Building"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a19fd1772c1e&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img decoding=\"async\" data-attachment-id=\"1004760187\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/greystone-lands-refi-for-manhattan-building\/75-77-spring-street\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/75-77-Spring-Street-e1748868913858.jpg\" data-orig-size=\"640,481\" 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;\\u00a9 Yardi Systems, Inc.&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=\"75-77 Spring Street\" data-image-description=\"&lt;p&gt;Exterior shot of 75-77 Spring St., an office building in Manhattan.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The 54,800-square-foot building is within the SoHo neighborhood. Image courtesy of CommercialEdge.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/75-77-Spring-Street-e1748868913858.jpg?w=640\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/75-77-Spring-Street.jpg\" alt=\"Exterior shot of 75-77 Spring St., an office building in Manhattan.\" class=\"wp-image-1004760187\" style=\"width:400px\"\/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">The nine-story, 54,800-square-foot building is in the SoHo neighborhood. <em>Image courtesy of CommercialEdge.<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Greystone Management has obtained $25.3 million in refinancing for 75-77 Spring St., a nine-story office building in Manhattan\u2019s SoHo neighborhood, according to CommercialEdge information. Bank of New York Mellon provided the note for the 54,800-square-foot property.<\/p>\n\n\n\n<p>Previous financing included a $30 million loan originated by Sammons Financial Group in 2015, according to the same source, and an $8.2 million loan from Wells Fargo Bank dating back to 2004.<\/p>\n\n\n\n<p>Greystone Management acquired the building in May 1972 from Martrice Realty. The mid-rise was built in 1900 and went through complete renovations in 2005. ABS Partners Real Estate handles leasing efforts.<\/p>\n\n\n\n<p>Located in Lower Manhattan, the property is adjacent to the Spring St. subway station and 2 miles from Empire State Building. John F. Kennedy International Airport is about 18 miles away. <\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO: <\/strong><a href=\"https:\/\/www.commercialsearch.com\/news\/office-investment-activity-picked-up-in-q1-2025\/\">2025 Office Investment Update<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The Class B mid-rise features floorplates ranging between 5,000 and 6,400 square feet, as well as 5,000 square feet of first-floor retail space. Additionally, the building has two passenger elevators. The tenant roster includes Spring Street Dermatology, J. Crew, Smoke &amp; Mirrors and Raven Capital Management, according to CommercialEdge information.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-a-spike-in-office-loan-originations\">A spike in office loan originations<\/h2>\n\n\n\n<p>In the first quarter of this year, originations for office properties at a national level increased 205 percent year-over-year, according to a report by the Mortgage Bankers Association. Compared to the last quarter of 2024, there was a 44 percent increase in loan originations for this asset type.<\/p>\n\n\n\n<p>Last week, Blackstone has obtained a $850 million CMBS loan to <a href=\"https:\/\/www.commercialsearch.com\/news\/blackstone-lands-850m-for-manhattan-asset-stake\/\">acquire a 49 percent stake<\/a> in Fisher Brothers&#8217; 1345 Avenue of the Americas, a 1.9 million-square-foot tower in Midtown Manhattan. Morgan Stanley, together with Citigroup and JPMorgan Chase, formed the lending syndicate.<\/p>\n\n\n\n<p>Earlier in April, Picchio International obtained a <a href=\"https:\/\/www.commercialsearch.com\/news\/manhattan-tower-lands-193m-refi\/\">$193.1 million refinancing loan<\/a> for 180 Maiden Lane, a 1.2 million-square-foot office tower in Manhattan. Wilmington Trust issued the note.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Built in 1900, the property went through complete renovations 20 years ago.<\/p>\n","protected":false},"author":3355,"featured_media":1004760187,"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":[32855,48239,33277],"class_list":["post-1004760182","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-new-york","category-latest","category-northeast","category-office","tag-greystone","tag-the-bank-of-new-york-mellon","tag-wells-fargo"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Greystone Lands Refi for Manhattan Building - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Greystone Management has obtained $25.3 million in refinancing for 75-77 Spring St., a nine-story office building in Manhattan.\" \/>\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\/greystone-lands-refi-for-manhattan-building\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Greystone Lands Refi for Manhattan Building\" \/>\n<meta property=\"og:description\" content=\"Greystone Management has obtained $25.3 million in refinancing for 75-77 Spring St., a nine-story office building in Manhattan.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/greystone-lands-refi-for-manhattan-building\/\" \/>\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=\"2025-06-03T06:31:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-10-08T07:47:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/75-77-Spring-Street-e1748868913858.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"481\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Vicentiu Fusea\" \/>\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\/greystone-lands-refi-for-manhattan-building\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/greystone-lands-refi-for-manhattan-building\/\",\"name\":\"Greystone Lands Refi for Manhattan Building - 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