NEW YORK, NY – Marcus & Millichap's institutional financing division Institutional Property Advisors has arranged $35 million in financing for the acquisition of a 99-year leasehold interest at a 141,645-square-foot, mixed-use building in Manhattan's SoHo neighborhood.
Located at 580 Broadway, the 12-story property features 8,442 square feet of grade retail space, 7,292 square feet of low-grade retail space and 125,911 square feet of office space. Built in 1898, the building encompasses a full block between Houston St. and Prince St. and spans to Crosby St.
The Anton Group structured the sale of the deal via a long-term ground lease.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
