RWN Real Estate Partners Secures $12.5M Refinancing For Office Building In NYC

The property at 135 Bowery, located in New York, NY, 10002, is an eight-story, 21,308-square-foot boutique creative office building in Manhattan’s Midtown South technology corridor. The building, originally built in 1900 and redeveloped in 2016, features a ground-floor retail space housing a high-end restaurant, along with full-floor loft office units above. The office spaces offer open floor plates, 10-foot ceilings, reclaimed wood details, custom kitchenettes, conference rooms, and two suites with private terraces and city views. Tenants within the property include lola/VFX, Bullish, Tradewind, breather, Martin Lui & Associates, Minds+Assembly, and RTS Ventures.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $12,500,000.00
• Borrower: RWN Real Estate Partners
• Borrower's Representative: Steven (Steve) Klein (JLL)
• Lender: BBVA Compass Bank

The refinancing deal for the property at 135 Bowery was facilitated by Steven Klein and Alex Staikos of HFF, securing a five-year, fixed-rate loan through BBVA Compass Bank. This refinancing provided funds to retire a construction loan and was a joint venture between Caspi Development and RWN Real Estate Partners. The property is fully leased with a diverse range of tenants, contributing to the vibrant atmosphere of this creative office building.