G4 Capital Partners Recapitalize Trophy Office Building In Manhattan For $34.25M

The office building at 76 8th Avenue in Manhattan, spanning 39,000 square feet, was the subject of a recapitalization loan transaction. The lenders, GDSNY and OakNorth Bank, provided a loan amount of $34,250,000 for the property. The landlord, G4 Capital Partners represented by Jason Behfarin, Robyn Sorid, Robert Palumbo, Alyssa Lang, Adam Parks, and Owen Skrodanes, secured the recapitalization facility.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $34,250,000
• Address: 76 8th Avenue
• Market: Manhattan
• Asset Type: Office
• Square Footage: 39,000
• Lender: GDSNY & OakNorth Bank
• Landlord: Jason Behfarin, Robyn Sorid, Robert Palumbo, Alyssa Lang, Adam Parks & Owen Skrodanes - G4 Capital Partners

Emanuel Westfried served as the broker in the transaction, facilitating the deal between the lenders and the landlord. GDSNY & OakNorth Bank provided the recapitalization facility to G4 Capital Partners, enabling them to retain control of the Trophy boutique office building at 76 8th Avenue. This transaction involved a joint venture with the former ownership, marking a strategic shift in the property's financial structure.