IPA Capital Markets, a division of Marcus & Millichap, announced the refinancing of 580 Broadway, a 12-story Class A office and retail property located in Soho, Manhattan. The refinancing package totaled $50 million. The building was constructed in 1900 and is located between Houston and Prince Streets. Maxi Capital Group, Sabal Investment Holdings, and GDSNY provided the $50 million office loan for the project.
Leasing has begun for 38 Greene Street, a landmarked cast iron office building in Soho. Located on the corner of Grand Street and Greene Street, the property recently received an upgrade at the hands of owner Zar Property and Workshop APD.
Construction is progressing on 430 West Broadway, a seven-story commercial building in the Soho Cast Iron District. Designed by Morris Adjmi Architects and developed by New Soho Associates, the project was approved by the Landmarks Preservation Commission in early 2019 and will yield office space sitting atop ground-floor retail and community facility space. Abeco Construction is the general contractor for the property, which is located between Prince and Spring Streets.
Excavation is progressing at 182-186 Spring Street, the site of a seven-story residential building in Soho, Manhattan. Designed by Selldorf Architects and developed by Spring Street Owner LLC, the structure will span 25,000 square feet with nine condominium units, 2,700 square feet of commercial space for up to three tenants, and 1,400 square feet for community facilities. CM & Associates is the general contractor for the property, which is alternately addressed as 83 Thompson Street and located in the Sullivan-Thompson Historic District at the corner of Spring and Thompson Streets.
KPG Funds has secured a $50 million construction loan to complete The Crosby, a new boutique office building in Soho. Located at 40 Crosby Street, the five-story building will comprise 52,000 square feet of office space and an 18,000-square-foot retail space on the ground floor.
