April 9, 2019
HFF and Hidrock Properties have closed on a $32-million refinancing for 35 W. 36th St., a 12-story, 77,880-square-foot loft-style office building in Midtown’s Garment District.
HFF placed the three-year, floating-rate loan on Hidrock’s behalf through Ladder Capital Finance. An HFF team of Steven Klein, Scott Findlay and Jackie Ferrer represented Hidrock.
Originally built in 1911, 35 W. 36th includes 7,080 square feet of ground-floor retail. Situated mid-block between Fifth and Sixth avenues, the property is near Herald Square and the Times Square, Grand Central and Midtown South submarkets.
“What drew us to acquire this building in 2007 was its central location and proximity to mass transit, including walking distance to both Grand Central Station and Penn Station,” said Abie Hidary, Hidrock’s CEO. “We are pleased to have seen its value increase steadily as we redesigned, renovated and re-tenanted the building over the years.”
For comments, questions or concerns, please contact Paul Bubny