Real estate development and investment firm Global Holdings has secured a $450 million refinancing for 1250 Broadway, a 39-story office tower in NoMad, Manhattan. Branded as Nomad Tower, the property is a LEED Platinum-certified office building located along Broadway between West 31st and West 32nd Streets. Wells Fargo originated the three-year fixed-rate loan, which was structured as a Green Bond, while Eastdil Secured advised on the transaction. Proceeds from the financing will retire existing debt on the property.
1250 Broadway, via nomadtower.com.
1250 Broadway, via nomadtower.com.
Nomad Tower occupies a full block front just north of Madison Square Park in Midtown South. The glass and steel tower was designed by Shreve, Lamb & Harmon and offers large floor plates and upper-level views overlooking Midtown and Downtown Manhattan. The building is currently 95.1 percent leased to a mix of office and retail tenants, including Zillow, TransPerfect, Magnite, Varonis, and Gunderson Dettmer.
1250 Broadway, via nomadtower.com.
1250 Broadway, via nomadtower.com.
Global Holdings acquired the property in 2016 and has since invested nearly $140 million in capital improvements. Upgrades included a full lobby and amenity renovation, infrastructure improvements, and extensive tenant buildouts. The repositioning program helped the building achieve LEED Platinum certification and repositioned the property as a modern office destination within the NoMad and Midtown South markets.
The tower is located directly adjacent to the 34th Street–Herald Square station, served by the B, D, F, M, N, Q, R, and W trains.
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Incredible! My favorite office retrofit in NoMad – Great character
The gym looks like it is in a sub-basement.