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Cannon Hill Recapitalizes 888 Broadway for Reported $200M

Cannon Hill Capital Partners has completed a $200-million recapitalization of 888 Broadway, with the addition of Global Holdings and Williams Equities as equity partners, according to published reports. The recapitalization reportedly was arranged by a Newmark team including Adam Spies and Adam Doneger.

Located in Manhattan’s Flatiron District, the 220,000-square-foot office building is anchored by Netflix, which houses its corporate offices there. The property recently underwent a significant capital improvement program, including a new lobby entrance and a rooftop terrace designed by Fogarty Finger. 

Fried Frank represented the partners in the structuring and negotiation of the $200-million recapitalization of 888 Broadway by Cannon Hill, Global Holdings and Williams Equities. The Fried Frank team was led by partners Michael Werner and Matthew Aldana and included partners Jonathan Mechanic, Janice Mac Avoy, Julianne Befeler Richard Wolfe and Libin Zhang.    

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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).

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