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InterVest Capital gets $85M loan to refinance SoHo building leased to Microsoft
The seven-story property at 300 Lafayette Street includes 63,000 square feet of Microsoft-occupied office space plus 19,028 square feet of retail leased to Neko Health, New Era, and Goldwin.
InterVest Capital Partners has secured an $85 million loan to refinance a mixed-use office and retail property in Manhattan’s SoHo neighborhood, Commercial Observer reports. The financing was provided by Hudson Bay Capital for the seven-story building at 300 Lafayette Street.
The building, completed in 2019, has 63,000 square feet of office space on floors two through seven, fully occupied by Microsoft. Newmark negotiated the debt with a team that included Jordan Roeschlaub, Nick Scribani, John Caraviello, and Ryan Bub, according to the report.
Commercial Observer adds that the property also includes 19,028 square feet of retail space on the ground floor and lower level, leased to Neko Health, New Era, and Goldwin. The office portion of the building was leased by Microsoft under a long-term agreement signed in March 2019, just before construction was completed.
In a statement, Newmark’s Nick Scribani said the asset is strong boutique product for Lower Manhattan, and that lender interest was deep and competitive. InterVest’s Rob Rothschild said the financing reflects the property’s strength and its tenancy.