Closed Loans

$6.5 Million Secured for Refinance of Tribeca, NY Retail Property

Brad Domenico negotiated $6,500,000 for a valued client to refinance 2 luxury retail condos located within a 9-story mixed use building at 408 Greenwich Street in Tribeca, NY.

The mid-rise building is comprised of retail/commercial space on the ground level, while floors three through nine contain four residential “floor-through” units with private entry key locked elevator. The two subject retail condos consist of an NRA of 6,319 SF and boast 65’ of wraparound ground floor frontage with an architecturally significant staircase connecting to the entire second floor to the one duplex condo unit. The unique corner duplex condo overlooking Citigroup’s Global HQ is 4,781 SF and is currently occupied by Oly Atelier Furniture Store, while Verve Wine occupies 1,538 SF on the ground level.

This post-modern neoclassic building embodies the beauty and history of Tribeca while incorporating the finest modern luxuries. The building sits in a prime location near the Hudson River Greenway and the finest neighborhood restaurants, boutique shops and schools. Minutes away is SoHo’s West Broadway and the West Village, making this an ideal downtown location.

Brad worked with Modern Bank to provide the following key terms:

  • 7% Fixed for 5 Years
  • 25 Year Amortization
  • 65% LTV

Progress Capital is a commercial real estate advisory company serving clients since 1990. With over $40 Billion in closed loans and $150 Million of directly funded bridge loans, we will get you to the closing table… Plain and Simple. #thatsProgress

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