New York City
Following on last week’s announcement that sporting goods retailer REI would open its first New York City location at the Puck Building, Holliday Fenoglio Fowler announced this week that it has arranged an $80-million first mortgage financing for the historic 265,000-square-foot, office and retail building at 295 Lafayette St. Working on behalf of borrower Kushner Cos., HFF’s Mike Tepedino, Jose Cruz and director Steven Klein placed the adjustable-rate loan on the property, the onetime home of Puck, America’s first political satire magazine. HFF did not disclose the lender; however, city Department of Finance records identify it as the Bank of Ireland.
Arbor Commercial Funding has originated a $4.6-million loan under the Fannie Mae 3Max product line for the 655 East 233rd Street Apartments in the Bronx. The 10-year loan amortizes on a 30-year schedule. The loan was originated by Brian Scharf in Arbor’s Uniondale, NY office.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
