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Debt & Equity

Newmark inks $30M refinance for 5-9 Union Square West

Newmark Holdings has just closed on a $30 million in refinancing for 5-9 Union Square West, an eight-story, 105,000-square-foot mixed-use building in Union Square.

Photo courtesy of Flickr
Photo courtesy of Flickr

The announcement was made by co-principals Eric Gural and Brian Steinwurtzel of Newmark Holdings.

“Amalgamated Bank was the existing lender and competed aggressively with other lenders to retain this loan, which is for a seven-year term with a fixed interest rate of 3.13%; the first five years are interest only,” said Paul Talbot, senior managing director, who represented Newmark Holdings on the loan.

The property is currently over 93 percent leased with a roster of prominent tenants that includes Staples and Rockwell Architecture Design.

Newmark Holdings is among the top five private owners of office and industrial property in New York City, with more than 45 buildings in the portfolio.

In addition, Newmark Holdings serves as third-party property manager for owners in New York, and manages more than 13 million square feet of space for its own account and for its clients.

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