Newmark arranges $230 million refinancing for 520-524 Bdwy.

Manhattan, NY Newmark has arranged a $230 million refinancing on behalf of Northwood Investors for 520-524 Bdwy, a collection of two historic mixed-use properties located in SoHo. Newmark co-president, global debt and structured finance Jordan Roeschlaub and vice chairman Nick Scribani secured the financing from Barings, which was led by Jonathan Neff.

Originally constructed in 1901 and 1903, the beaux-arts limestone buildings spanning 235,000 s/f feature a newly renovated attended lobby and blend with SoHo’s storied, backdrop. The properties occupy the southeast corner of Bdwy. and Spring St., and are home to Balthazar and Lululemon, with Abercrombie & Fitch soon to join the roster.

The financing will provide future funding to support leasing across both the retail and office components. The property includes 55,000 s/f of ground-floor retail and 180,000 s/f of office space, leased to a diverse mix of tenants.