HSR Corp. has secured $58 million to refinance a Class-A office building with ground-floor retail in SoHo, New York City. The five-year fixed rate loan, provided by Morgan Stanley, offers full term interest only terms.
The property at 503-511 Broadway features a five story office building with 111,164 square feet of office space and 10,000 square feet of ground floor retail plus additional storage space. Notable tenants include PacSun, Away Travel and Bath & Body Works while the retail condo portion was previously sold to Inditex – the parent company of Zara.
Black Bear Capital Partners (BBCP) – a subsidiary of Black Bear Asset Management (BBAM) – arranged the financing through Bryan Manz Emil DePasquale and George Pektor’s team .
This post highlights HSR Corp’s successful acquisition of $58 million in financing for their SoHo mixed use property located in NYC offering Class A offices as well as ground floor retail spaces occupied by notable brands such as Pacsun , Away Travel and Bath & Body Works .
