Olshan Properties Secures $40M Refi on 99 Hudson Street as Tribeca Office Demand Holds Strong

Key Points

• JLL arranges $40M refinancing for 99 Hudson Street in Tribeca
• 183,958 SF Class B office building is 97% occupied
• Lender confidence reflects strength in Tribeca’s low vacancy office submarket

A $40M Refinance Anchored at 99 Hudson Street

JLL Capital Markets has arranged a $40 million refinancing for 99 Hudson Street, a 17-story, 183,958 square foot office building in Tribeca. The borrower is an affiliate of Olshan Properties, which has owned the asset since 1983. The deal underscores continued liquidity for stabilized Manhattan office assets with strong tenancy.

What 97% Occupancy Means for Tribeca Office Stability

What the Refi Signals for Manhattan Capital Markets

Steven Klein of JLL noted that Tribeca continues to benefit from limited supply, low vacancy, and sustained tenant demand. Unlike older Midtown assets facing leasing headwinds, boutique downtown buildings with character and proximity to transit are still attracting both tenants and lenders. For owners, long-term stewardship combined with incremental upgrades can protect asset value even during broader office volatility.

What Transit Access Means for Tenant Retention

The building sits near the Franklin Street 1 train station and the Canal Street station, serving the A, C, E, J, Z, N, Q, R, and W lines. Strong transit connectivity reinforces Tribeca’s appeal to creative and professional tenants seeking flexible space in a neighborhood setting. For investors and brokers, the refinancing at 99 Hudson Street reinforces a clear trend. In the Manhattan office, quality, occupancy, and submarket fundamentals determine access to capital.