New York & Tri-State CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

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

One Soho Square Complex Lands $900M Financing

Stellar Management and minority partner Imperium Capital have secured a $900-million refinancing for One Soho Square, an office and retail complex in Manhattan’s SoHo neighborhood. A source familiar with the transaction said Goldman Sachs spearheaded the fixed-rate, seven-year loan along with Deutsche Bank and Bank of Montreal.

Cushman & Wakefield’s Steve Kohn, Alex Hernandez, Adam Spies and Alex Lapidus negotiated the debt for the Class A property, which consists of the 15-story One Soho Square East and 13-story One Soho Square West, totaling 768,000 square feet. 

Stellar acquired the property for $200 million in 2012 and spent another $50 million repositioning the two separate buildings as modern office space. With Flatiron Health—which signed a 10-year renewal and expansion for 252,452 square feet in 2019—anchoring the complex, One Soho Square is approximately 92% leased. A Newmark team led by vice chairman Brian Waterman handles office leasing.

Connect

Inside The Story

Cushman & Wakefield’s Kohn

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 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).

Step 1: Select Education
  • ◦Financing
BancofCalifornia-01-cube
New call-to-action
NAIOP-11-cube
NewPoint-06-cube