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New York & Tri-State  + Downtown New York  + Finance  | 

Barings Provides $230M Refi on SoHo Mixed-Use Properties

Newmark said Thursday it had arranged a $230-million refinancing on behalf of Northwood Investors for 520-524 Broadway, a pair of historic retail and office properties located in SoHo. Co-President, Global Debt and Structured Finance Jordan Roeschlaub and vice chairman Nick Scribani secured the financing from Barings, which was led by Jonathan Neff.

The financing will provide future funding to support leasing across both the retail and office components. Terms of the loan were not disclosed. The property includes 55,000 square feet of ground-floor retail and 180,000 square feet of office space, leased to a diverse mix of tenants.

Originally constructed in 1901 and 1903, the Beaux-Arts limestone buildings spanning 235,000 square feet occupy the prominent southeast corner of Broadway and Spring Street, one of New York City’s most sought-after retail intersections, and are home to Balthazar and Lululemon, with Abercrombie & Fitch soon to join the roster. Office tenants include WeWork.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing