Sunday, April 7, 2019

HFF secures $32 million refinance on behalf of Hidrock Properties for Midtown New York City office tower

35 West 36th Street, a 12-story, 77,880-square-foot office building
               in the Garment District of Manhattan, New York

NEW YORK, NY –– Holliday Fenoglio Fowler, L.P. (HFF) and Hidrock Properties announce the closing of a $32 million refinancing for 35 West 36th Street, a 12-story, 77,880-square-foot office building in the Garment District of Manhattan.

HFF placed the three-year, floating-rate loan on Hidrock’s behalf through Ladder Capital Finance.

Abraham J. Hidary

Originally built in 1911, 35 West 36th Street is a 12-story, loft-style building with 70,800 square feet of office space and 7,080 square feet of ground-floor retail. 

The building’s renovated lobby boasts two high-speed elevators that open directly into each tenant’s space.  Tenants benefit from multiple building amenities such as a doorman, 24/7 key card access, high-speed internet providers, including fiber, and on-site retail amenities, including a cafĂ© and kickboxing gym. 

Steven Klein
The retail units share 55 feet of frontage on West 36th Street.  Situated mid-block between 5th and 6th Avenues in the Garment District, 35 West 36th Street is near Herald Square and the Times Square, Grand Central and Midtown South submarkets. 

Public transport is available via 18 subway lines, NJ Transit and LIRR, PATH, commuter bus lines and Metro North lines, all within walking distance.

“What drew us to acquire this building in 2007 was its central location and proximity to mass transit, including walking distance to both Grand Central Station and Penn Station,” said Abie Hidary, Hidrock’s Chief Executive Officer. 

“We are pleased to have seen its value increase steadily as we redesigned, renovated and re-tenanted the building over the years.”

Jackie Ferrer
HFF’s debt placement team representing  Hidrock Properties consisted of managing director Steven Klein, director Scott Findlay and senior associate Jackie Ferrer.

“Hidrock Properties is a multi-generational real estate company dedicated to long-term investment in commercial real estate properties and 35 West 36th Street was no exception,” Klein said. 

“The office property has been and continues to be well-maintained and is a testament to Hidrock’s 12-year ownership of the building.  It was a pleasure working with Hidrock and its affiliates on this financing.”


HFF Managing Director
(212) 245-2425

HFF Public Relations Specialist
(713) 852-3403

HFF closes sale of Embassy Suites by Hilton Portland Maine

Embassy Suites by Hilton Portland Maine, a 119-room, full-service hotel at 1050 Westbrook Street adjacent to the Portland International Jetport  in Portland, ME

BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announces that it has closed the sale of the Embassy Suites by Hilton Portland Maine, a 119-room, full-service hotel in Portland.

HFF represented the private sellers in the sale of the properties to AAM 15 Management, LLC.

Denny Meikleham
The Embassy Suites by Hilton Portland Maine is situated at 1050 Westbrook Street adjacent to the Portland International Jetport and just off Interstates 95 and 295 proximate to major local corporate demand generators, including National Semiconductor, Unum and Maine Medical Center. 

Additionally, the asset is close to popular tourist destinations such as the historic Old Port District and the beaches of Southern Maine. 

Alan Suzuki

The six-story, all-suite hotel offers a full range of amenities, including a restaurant, fitness center, indoor pool and 3,615 square feet of meeting/event space.  Complimentary breakfast and evening receptions are offered to hotel guests as well.

The HFF investment advisory team representing the seller included managing director Denny Meikleham, senior director Alan Suzuki and director Matthew Enright.

About AAM 15 Management, LLC

AAM 15 Management is an independent private equity real estate investment and hotel management company. AAM 15 Management pursues acquisitions of hotel assets in the urban and suburban core throughout the east coast of the United States.
Matthew Enright
Management targets growing business locations, with an emphasis on those that combine education, commercial growth and positive 24/7 population trends.

HFF Managing Director
(617) 338-0990

ME Lic. #BR904355
HFF Senior Managing Director
(617) 338-0990

HFF Public Relations Specialist
(713) 852-3403