Valley National Bank Provides $21M Refinance Loan For SoHo Retail Property
495 Broadway
20,000 SF
Summary
Located in the vibrant neighborhood of SoHo, the retail property at 495 Broadway has recently undergone a loan refinancing transaction. The property spans an impressive 20,000 square feet, offering ample space for retail operations in this popular market.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $21,000,000
- Address: 495 Broadway
- Market: SoHo
- Lender: Valley National Bank
- Landlord: WB Property Group, ACHS Management, and Aurora Capital Associates
In facilitating this refinancing, the services of JLL brokers Solomon Michailow and Max Herzog were enlisted. Their expertise and representation were valuable assets in bringing the deal to fruition.
The loan terms for this transaction include a 10-year term, with the initial few years being interest-only. The interest rate of this loan is in the high 3's, providing a favorable financial arrangement for the borrower. The refinance loan provided much-needed liquidity for the retail leasehold financing of the property, further solidifying its market position in SoHo.
Players
All
4
Agents
2
Agencies
2
Details
View on map
Loading...
Comparables
Reset filters to show results.
Contact
Get in touch with the broker you want