Gregory Kraut Of KPG Funds Secures $127.9 Million Refinance Loan From Blue Owl Capital In SoHo
478 Broadway & 153 Spring Street
$127,900,000
$1,379/SF
Building Size
92,751 SF
Asset Type
Office
Closing
Sep 9, 2026
About this deal
AI
The assets involved in this transaction are office and retail condos located at 478 Broadway and 153 Spring Street in SoHo, Manhattan. The total square footage of these properties is 92,751, with a buildable square footage of 34,364. The transaction was part of a refinancing deal.
Summary of transaction details:
- Property Type: Office & Retail Condo
- Transaction Amount: $127,900,000
- Address: 478 Broadway & 153 Spring Street
- Market: SoHo, Manhattan
- Lender: Blue Owl Capital
- Landlord: Gregory Kraut - KPG Funds
- Loan Type: Refinance
The refinancing involved KPG Funds, managed by Gregory Kraut, who secured the loan from Blue Owl Capital for three SoHo properties, specifically 478 Broadway and the condos at 153 Spring Street. This deal highlights the collaboration between institutional lenders and property owners in the area.
On the Map
$127,900,000
$1,379/SF
Office
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Players
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93