HKS Capital Partners has originated a $25 million loan to refinance 466 Broome Street, a commercial office/retail building in SoHo.
The seven year fixed loan from Bank United features a fixed rate loan at 3.75%, non-recourse.
“The 25,250 s/f building is located in the heart of one of Manhattan’s premier submarkets,” said John Harrington, co-founding partner of HKS Capital Partners who negotiated the deal.
“SoHo is the location of choice for creative industries and maintains the cachet as a world class shopping destination.”
Harrington, who explained the building owners, who have owned the building since 2007, plan to use the money to purchase more properties in the area.