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IPA Arranges $50M Refi on Newly Renovated SoHo Mixed-Use
IPA Capital Markets, a division of Marcus & Millichap specializing in capital markets services for major private and institutional clients, closed the $50-million refinancing of a newly renovated, Class A mixed-use office and retail property located at 580 Broadway in Manhattan’s SoHo neighborhood. Matthew Polci, Steven Buchwald and Rachael Krawiecki secured the financing for the property.
“The New York City office market is not homogenous,” said Buchwald. “580 Broadway proves that high-quality buildouts and well-laid-out spaces in vibrant locations like SoHo can command rapid leasing velocity and premium rents.”
Located between Houston and Prince streets, the 12-floor property is already more than 50% leased. The property has a full-block presence spanning Broadway to Crosby Street with strong views given its atypical height for the neighborhood, according to IPA Capital Markets.
- ◦Financing
