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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.
- ◦Financing
