Mar 3, 2026

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

Traded Media

Traded Editorial

2 min read

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

Built in 1930, the Class B building has undergone recent capital improvements, including lobby upgrades, façade enhancements, elevator modernization, and mechanical system improvements. The property is approximately 97 percent occupied, with tenants including Chobani, Daily Harvest, HR&A Advisors, and ODA Architecture. Several floors offer loft-style, open-plan layouts that appeal to creative and technology users. In a bifurcated office market, high occupancy and updated infrastructure remain critical for refinancing success.

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.

#New York #Loan #Office #Capital Markets

Published: Mar 3, 2026Last updated: March 3, 2026