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Acadia Realty Trust Lands $33M for NoHo Loft Building
Acadia Realty Trust has secured $33 million in financing for 640 Broadway, a nine-story, pre-war loft building in Noho. Bridge Investment Group. Bridge Investment Group provided the loan.
The property, designed by DeLemos & Cordes in 1896, comprises 21 luxury rental apartments and 4,241 square feet of ground-floor retail space with tenants including Kith Kids, Glosslab, and Two Hands. The apartments feature 12-foot barrel-vaulted ceilings, arched floor-to-ceiling windows, loft floor plans, high-end appliances, and central air, among other amenities. The building also offers a rooftop terrace and a private fitness center.
A JLL debt team led by Stephen Van Leer represented the borrower in the transaction. “New York’s multi-housing and retail markets continue to demonstrate remarkable strength,” said Leer. “Acadia’s astute value-add strategy coupled with the property’s prime location made it an appealing investment for lenders seeking to diversify their portfolio during uncertain times.”
- ◦Financing
