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NEW YORK CITY-32-42 Broadway LLC has secured approximately $75 million in refinancing for its companion buildings in the Financial District. Combined, the buildings contain 514,609 sf of rentable space.
Originally purchased in 1995, the buildings have been operated as a single entity ever since. At approximately 0.71 acres, the site is situated along the east side of Broadway between Exchange Place and Beaver Street. It is currently 94.1% leased to approximately 85 tenants.
Locally based Meridian Capital Group recently arranged financing which equates to $146 per sf. Rael Gervis negotiated the transaction.
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