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Debt & Equity

Hidrock refiʼs Garment District wallflower

Holliday Fenoglio Fowler and Hidrock Properties announced $32 million refinancing for 35 West 36th Street, a 12-story, 77,880 s/f office building in the Garment District.

HFF placed the three-year, floating-rate loan through Ladder Capital Finance.

Originally built in 1911, 35 West 36th Street is a 12-story, loft-style building with 70,800 s/f of office space and 7,080 s/f of ground-floor retail. The building’s renovated lobby has two high-speed elevators that open directly into each tenant’s space.

Building amenities include a doorman, 24/7 key card access, high-speed internet providers and on-site retail that includes a café and kickboxing gym. The retail units share 55 feet of frontage on West 36th Street.

“What drew us to acquire this building in 2007 was its central location and proximity to mass transit, including walking distance to both Grand Central Station and Penn Station,” said Abie Hidary, Hidrock CEO. “We are pleased to have seen its value increase steadily as we redesigned, renovated and re-tenanted the building over the years.”

HFF’s debt placement team included Steven Klein, cott Findlay and Jackie
Ferrer.

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