Zar Property Group has refinanced 64 Wooster Street in Soho with a $48 million loan.
Meridian Capital Group negotiated CMBS financing for the office building that is home to an outpost of Scotland’s Caledonian College.
The 10-year loan features full-term interest-only payments. Meridian vice president Isaac Filler negotiated the financing.
Constructed in 1900, the 13-story office building is located on one of Manhattan’s iconic cobblestone streets and features large windows and detailed carvings on its façade.
The property houses 10 tenants in all and includes four elevators.
“Assets such as 64 Wooster are not only iconic but irreplaceable and will continue to be sought by lenders given the high demand and limited supply of boutique office space in Soho,” said Filler.