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

JLL Lines Up $210M on 530 Broadway

JLL Capital Markets arranged $210 million in acquisition financing for 530 Broadway, a 197,637-square-foot mixed-use building in Soho.

The firm’s Michael Tepedino, David Sitt and Robert Tonnessen worked on behalf of the borrower, a SHVO-led joint venture that included Deutsche Finance America and BLG Capital Ltd., to place the loan with LoanCore Capital LLC.

The JV purchased the property from Wharton Property Advisors and Thor Equities in a separate transaction. Built in 1898, the 11-story 530 Broadway is comprised mainly of office space, with tenants including Anomaly, JKR, Knotel, Skechers and Club Monaco.

SHVO, Deutsche Finance and BLG Capital have partnered on the acquisition of six other properties in the past 18 months, including 685 Fifth Ave. and 711 Fifth Ave. in New York City; The Raleigh and South Seas in Miami Beach; and 9200 Wilshire Blvd. in Beverly Hills.

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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 13-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 15-20 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 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).