February 6, 2017 Comments Off on Retail Attracts 10-Year CMBS Refi Views: 172 Midtown New York, New York News

Retail Attracts 10-Year CMBS Refi

The owners of 1204, 1212 and 1214-1216 Broadway have taken out a $58 million CMBS loan to refinance the property. A foreign lender provided the 10-year, interest-only loan. Combined, the properties house 29 tenants, which include Grind and District Cowork. The properties are situated directly across the street from the future Virgin Hotel.

“Lenders saw the appeal in the properties’ prime location, which helped Meridian negotiate a 10-year interest-only loan,” said Steven Adler, managing director for Meridian Capital Group, which arranged the refinancing.

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