PGIM Lends $200M For 315 Hudson St Office Refinancing In New York

The property at 315 Hudson Street, New York, NY, 10013 is a 10-story, 484,000-square-foot office building located in the Hudson Square area. Recently refinanced by Jack Resnick and Sons, the property will soon be home to Google. The refinancing deal involved a $200 million loan provided by PGIM Real Estate Finance, which includes a new $65 million mortgage. The loan will be used to refinance the existing debt on the building and fund an ongoing renovation project that is expected to be completed this year. Some of the renovations include a refurbished lobby, a new green roof, and upgraded retail storefronts.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $200,000,000.00
• Market: New York
• Borrower's Rep: Scott Singer(Avison Young)
• Lender: PGIM

Tom Goodsite, the managing director at PGIM, played a key role in leading the transaction on behalf of the lender. Scott Singer, president of the Singer & Bassuk Organization, acted as the broker for Resnick in the refinancing deal. The involvement of these individuals highlights the strategic importance of their roles in facilitating the financing and renovation of the Hudson Square office building.