Terrence Lowenberg & Todd Cohen Secure $18.5M Refinance Loan For Retail And Mixed-Use Properties

120 Spring Street & 1384 1st Avenue is a retail and mixed-use property located in the SoHo and Upper East Side markets. The asset comprises a total square footage of 17,500, with 1,500 square feet dedicated to retail and 16,000 square feet assigned to mixed-use purposes. The transaction involved a loan amount of $18,500,000, categorized as a refinance.

Summary of transaction details:

• Property Type: Retail and Mixed-Use
• Transaction Amount: $18,500,000
• Address: 120 Spring Street & 1384 1st Avenue
• Market: SoHo & Upper East Side
• Lender: Webster Bank
• Landlord: Terrence Lowenberg & Todd Cohen - Icon Realty Management
• Brokerage Team: Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Michael Ianno & Sean Bastian - Walker & Dunlop
• Loan Type: Refinance

The deal involved key representatives including Terrence Lowenberg and Todd Cohen from Icon Realty Management as landlords. The brokerage team from Walker & Dunlop played a significant role in facilitating the transaction, bringing together the various parties involved in securing the refinance through Webster Bank.