According to reports, Cannon Hill Capital Partners has successfully completed a $200 million recapitalization of 888 Broadway. This was made possible by the addition of equity partners Global Holdings and Williams Equities, as arranged by a team from Newmark led by Adam Spies and Adam Doneger.
The office building, located in Manhattan’s Flatiron District, spans 220,000 square feet and is primarily occupied by Netflix for its corporate offices. Recently, the property underwent significant upgrades including a new lobby entrance and rooftop terrace designed by Fogarty Finger.
Fried Frank played an integral role in structuring and negotiating this recapitalization deal between Cannon Hill Capital Partners along with Global Holdings and Williams Equities. The Fried Frank team was headed by partners Michael Wernerand Matthew Aldanaand also included Jonathan Mechanic,Jane Mac AvoyJulianne Befeler,and Richard Wolfe.
