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Williams Equities Lands $155M Refi for Downtown Mixed-Use Complex
Williams Equities has secured a $155 million CMBS loan from Citi Real Estate Funding Inc. for their property at 28-40 West 23rd Street in Flatiron District. The loan, spanning five years, aims to replace existing financing and fund extensive improvements and amenities for the mixed-use complex.
The property, once a historic department store, now hosts an array of creative and tech firms, with Home Depot anchoring its retail space. Previous investments by Williams Equities have already elevated the property with modern lobbies and upgraded infrastructure. Now, with the infusion of the new loan, plans are underway for further enhancements, including an updated atrium, skylights, and a building-wide roof deck.
“As long-term, hands-on owners and operators, we have taken a judicious approach across our entire portfolio to ensure that our properties remain in strong financial health for decades to come. We continue to see tenants attracted to well-capitalized and -positioned B buildings throughout the city.” said a Williams Equities spokesperson.
- ◦Financing
