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| 315 Broadway, Tribeca Neighborhood, Manhattan, NY |
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| Steven Klein |
NEW YORK, NY -- Holliday Fenoglio Fowler, L.P. (HFF)
announced it has secured $13.68 million in acquisition bridge financing for 315 Broadway, a 17,615-square-foot,
mixed-use property in Manhattan’s Tribeca neighborhood.
HFF worked on behalf of
the borrower, United American Land, LLC, to arrange the four-year,
floating-rate loan through Peoples United Bank.
Given the short term leases in place, the borrower intends to reposition
the property into a boutique office building with high quality retail space on
the ground floor. HFF was also involved in the sale of the property in October
2015.
315 Broadway is located in
the Tribeca submarket of Manhattan on the west side of Broadway between Duane
and Thomas Streets. This location is
proximate to area transportation including the subway, PATH train and the World
Trade Center Transportation Hub.
The five-story loft property has 13,900 square
feet of office space and 3,715 square feet of ground floor retail.. The property also has approximately 23,401
square feet of unused air rights.
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| Geoff Goldstein |
The HFF debt placement
team representing the borrower was led by managing director Steven Klein and director Geoff Goldstein.
“With the strength of the
asset’s location in Tribeca and top-tier sponsorship, we received a great deal
of interest in this offering from commercial banks,” said Klein. “Peoples
understood the business plan to fully reposition the property and provided
attractive terms in a timely manner to secure the financing.”
United American Land LLC
(UAL) is a family-owned real estate development, investment and management
company based in New York City. Its
principals, the brothers Albert, Jason
and Jody Laboz, own and manage almost fifty properties in Manhattan,
Brooklyn and Queens.
For a
complete copy of the company’s news release, please contact:
Kristen M. Murphy
Director
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
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