Holliday Fenoglio Fowler arranged a $25.5 million refinancing for 35 West 36th Street, a 79,750 s/f office building in the Garment District.
HFF worked on behalf of the borrower, a joint venture between Hidrock Properties and an institutional investment partner, to secure the five-year, floating-rate loan through M&T Bank.
Originally built in 1911, 35 West 36th Street is a 12-story building with 72,600 s/f of office space and 7,150 s/f of ground floor retail.
The fully-leased property has a diverse tenant roster with no one tenant occupying more than 8.3 percent of the building.
Situated mid-block between 5th and 6th Avenues in the Garment District, 35 West 36th Street is blocks from Herald Square and the Times Square, Grand Central and Midtown South submarkets.
The HFF debt placement team was led by managing director Steven Klein and director Geoff Goldstein.