10-Year Interest-Only Loan for 64 Wooster St

Zar Properties borrowed $48 million from Citi Real Estate Funding to refinance 64 Wooster St., a boutique office building in Manhattan’s SoHo neighborhood.

“Assets such as 64 Wooster are not only iconic but irreplaceable, and will continue to be sought by lenders given the high demand and limited supply of boutique office space in Soho,” said Isaac Filler of Meridian Capital Group, which negotiated the financing.

The CMBS loan features interest-only payments for its full, 10-year term. The eight-story building first opened in 1900. Its large windows and intricately carved façade look out on one of Manhattan’s few remaining cobblestone streets. Four elevators serve its 10 office tenants.

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