Stellar Management, along with minority owner Imperium Capital, has secured a $900 million refinancing package for One Soho Square, a Class A office and retail property.
Goldman Sachs provided the loan, which was arranged by a Cushman & Wakefield team led by Alex Hernandez.
Located at 233 Spring Street and 161 Sixth Avenue, One Soho Square consists of the 13-story One Soho Square East and the 15-story One Soho Square West, totaling a combined 768,000 s/f.
Originally built in 1904 and 1926, Stellar purchased the buildings for $200 million in 2012 and spent another $50 million transforming them into modern offices with amenities such as a rooftop deck, private outdoor terraces, 24/7 concierge, a messenger center, secure bike facilities, new passenger elevators and mechanical systems and new bathrooms.
The property is anchored by healthcare technology firm Flatiron Health, which occupies 252,452 s/f. Other leading tenants include MAC Cosmetics, Trader Joe’s, CVS and Aetna Life Insurance Co.
One Soho Square is reportedly 92 percent occupied.