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HSR Corp Lands $58M in Financing for SoHo Mixed-Use Property
HSR Corp. has secured $58 million to refinance a Class-A office building with ground-floor retail in SoHo. The five-year fixed-rate loan, provided by Morgan Stanley, offers full-term interest-only terms.
The property, located at 503-511 Broadway, features a five-story office building with 111,164 square feet of office space, 10,000 square feet of ground-floor retail, and additional storage space. Tenants in the building include PacSun, Away Travel, and Bath & Body Works. The retail condo portion of the building was previously sold to Inditex, the parent company of Zara.
Black Bear Capital Partners (BBCP), a subsidiary of Black Bear Asset Management (BBAM), arranged the financing with a team led by Bryan Manz, Emil DePasquale and George Pektor.
- ◦Financing
