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Debt & Equity

Taconic refinances Apple building with $89M MetLife loan

Holliday Fenoglio Fowler, L.P. has secured an $89 million refinancing for 401 West 14th Street, a mixed-use retail and office building anchored by Apple Inc. and located  at the entry to the Meatpacking District.

HFF worked on behalf of the sponsor, Taconic Investment Partners LLC, to place the 15-year, interest-only, fixed-rate loan with MetLife.  The transaction closed on October 29, 2015.

401 West 14th Street is 100 percent leased and anchored by a flagship Apple Store, which features a three-story, distinctive curved glass internal staircase.

401 West 14th Street
401 West 14th Street

The four-story building is also home to retailers Hugo Boss and The Kooples as well as offices for Apple and Raptor Capital Management.  Fully redeveloped in 2007, the building features all new systems, windows and a restored historic façade.

The building’s penthouse contains three terraces and floor-to-ceiling windows that offer views of the Meatpacking District, a 20-block, 24-hour Manhattan destination with upscale offices and trendy restaurants, nightlife, retail, hotels and cultural attractions including the High Line and the new Whitney Museum.

401 West 14th Street is two blocks from the Chelsea Market and from Google’s East Coast headquarters at 111 Eighth Avenue and sits at the nexus of Chelsea and the West Village.

 

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