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$20M Refi for Garment District Offices, Retail
JLL Capital Markets arranged a $20 million refinancing for 16 W. 36th St., a 13-story, 67,271-square-foot office building with street-level retail. The group worked on behalf of owners Windsor Management Corporation to secure the 10-year, fixed-rate refinancing through a life insurance company.
Built in 1920 and located in the Garment District, 16 W. 36th has been owned by Windsor since the 1940s. It’s currently 97% occupied and its retail space is currently home to Clinton Hall, one of New York City’s most popular sports bars.
Windsor recently invested in the property, retrofitting suites for new tenants with high-end finishes, including glass walls, new bathrooms, polished concrete floors, LED lights and luxury kitchen pantries with stone countertops.
JLL managing director Steven Klein and associate Alex Staikos handled the assignment.
“This is an extremely well-located asset with a best-in-class multi-generational family owner and operator,” Klein said.
Photo courtesy of Windsor Management.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
