Manhattan, NY HKS Capital Partners has originated a $25 million loan to refinance 466 Broome St., a commercial office/retail building in SoHo.
The seven-year non-recourse loan from Bank United features a fixed-rate loan at 3.75%.
“The 25,250 s/f building is located in the heart of one of Manhattan’s premier submarkets,” said John Harrington, co-founding partner of HKS, who negotiated the deal.
“SoHo is the location of choice for creative industries and maintains the cachet as a world class shopping destination,” said Harrington, who explained the building owners, who have owned the building since 2007 plan to use the money to purchase more properties in the area.