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.
SoHo Office and Retail Property Refinanced Through ACORE Capital
Walker & Dunlop, Inc. has arranged $216 million in bridge financing to refinance 568 Broadway, a mixed-use trophy asset located in Manhattan’s SoHo neighborhood. The Walker & Dunlop Capital Markets Institutional Advisory team served as exclusive advisor to a joint venture between Aurora Capital, Allied Partners and A&H Acquisitions.
Aaron Appel, Dustin Stolly, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Sean Reimer, Jordan Casella and Stanley Cayre arranged the financing with ACORE Capital.
“Few assets can match this Broadway property’s combination of premier corner positioning, Broadway frontage, strong retail tenancy, recently upgraded infrastructure, and flexible office product,” said Stolly. “SoHo remains one of Manhattan’s most supply-constrained office and retail submarkets, with limited large-block inventory and minimal new competitive supply. That scarcity limits competitive leasing pressure while supporting future rent growth, occupancy durability, and long-term value.”
568 Broadway is a 12-story, 390,745-square-foot property comprising of office and retail space. The property’s approximately 70,870-square-foot retail component is 100% leased to Hugo Boss, Athletic Propulsion Labs, GU, and Equinox, while the office component is leased to a mix of tenants including Zocdoc, The Farmer’s Dog, and Milk Makeup.
- ◦Financing
