NEW YORK CITY-ABC Management Corp. is securing a $44-million refinancing for 599 Broadway. The 12-story retail condominium was secured for 10 years at a fixed-rate with Prima Capital Advisors.
The SoHo property the retail condo aspect encompases the first three floors while the straight retail component is on the lower level. The master tenant for the condos is Jeff Sutton, while American Eagle holds the second floor and lower level space on a 15-year lease. This SoHo shop for American Eagle is scheduled to open next month.
Holliday Fenoglio Fowler, L.P. arranged the loan on behalf for ABC and "represents the skillful culmination of a long-term repositioning" of the property, according to ABC's principal partner, David R. Topping. HFF did not return inquiries to GlobeSt.com by deadline.
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