PROGRESS CAPITAL | New York, NY – $6,500,000
18886
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New York, NY – $6,500,000

Category
Multi-Family, Retail
About This Project

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

 

New York, NY – 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:

  • 4.7% Fixed for 5 Years
  • 25 Year Amortization
  • 65% LTV

 

Progress Capital is a leading Commercial Mortgage Brokerage Firm specializing in arranging debt for commercial real estate owners, operators and developers. Since 1990, Progress has successfully closed in excess of $40 Billion in commercial loans and directly funded over $150 Million, we will get you to the closing…plain and simple…#thatsPROGRESS