Cushman & Wakefield advised an affiliate of Vanbarton Group in arranging $67.5 million of acquisition financing for The Astor Retail Condominium, a 31,210 s/f retail condo at 2139-2157 Broadway.
The floating rate financing was provided by an affiliate of Mesa West Capital, LLC.
The retail condo is located at the base of The Astor, a 12-story pre-war full-block luxury residential complex.
It consists of 18,902 s/f of ground floor space spanning the entire westerly block front of Broadway between 75th and 76th Streets, along with three side street stores and 12,308 s/f on the basement level.
It is 100 percent leased to nine commercial tenants, including luxury department store Barneys New York, high-end athletic apparel retailer Lululemon, Stuart Weitzman, Papyrus and L’Occitane.
The Cushman & Wakefield Equity, Debt and Structured Finance team included Steve Kohn, Alex Hernandez
and Alex Lapidus.“This property had all the right ingredients for a successful financing execution,” noted Kohn.
