**Taconic’s 817 Broadway Secures $129M in Refinancing**
GreenBarn Investment Group and Sabal Investment Holdings have jointly facilitated the refinancing of 817 Broadway, a prominent office property in Manhattan’s Greenwich Village. The refinancing includes the origination of a $37.5 million mezzanine loan and a new $91 million senior mortgage provided by Ares Real Estate funds.
Owned and developed by Taconic Partners, the property at 817 Broadway is a 14-story, 140,000-square-foot, Class A boutique office building located at the corner of Broadway and 12th Street. Originally constructed in 1895, the building has undergone a comprehensive renovation that maintained its historic character while incorporating modern upgrades. These improvements include advanced building systems, a restored façade, and premium tenant amenities. The building is currently 100% leased.
Chris Balestra, president and CIO of Taconic Partners, commented on the milestone:
“The success of 817 Broadway is a testament to a thoughtful development approach that revived a piece of New York’s history and delivered an exceptional tenant experience. Taconic is pleased to refinance this property with GreenBarn, Sabal and Ares, and is bullish on the overall office market in New York City as we actively seek to add to our portfolio.”
Adam Spies and Adam Doneger of Newmark served as advisors on the transaction.
