NEW YORK, NY – The New York office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged a $90 million refinancing for 401 West 14th Street, (above centered photo) a 62,199-square-foot retail and office building in Manhattan’s Meatpacking District. (top right map) Working exclusively on behalf of the owner, a partnership comprised of affiliates of Taconic Investment Partners, LLC and ING Clarion Partners, HFF managing director Evan Pariser and senior real estate analyst Todd Newman placed the five-year, adjustable-rate loan with Landesbank Hessen-Thuringen Girozentrale (Helaba).
Originally constructed in 1927, 401 West 14th Street has undergone major redevelopment and repositioning since it was acquired by the owners in 2005 including the addition of a 9,000-square-foot penthouse and a complete renovation of the base building. The four-story, Class A property is currently 100%
leased to Apple Inc., Hugo Boss Retail Inc., Moschino and Tudor Investment Corporation.
leased to Apple Inc., Hugo Boss Retail Inc., Moschino and Tudor Investment Corporation. The anchor tenant, Apple, Inc., leases a portion of the ground floor and the entire second and third floors, as well as the rooftop billboard.
(Manhattan meat-packing district view at left)
HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.
HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing.
CONTACTS:
Evan Pariser, HFF Managing Director, 212 245 2425, epariser@hfflp.com
Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com
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