As we spherical out a busy week of deal exercise in New York Metropolis, there’s another piece of excellent information to report earlier than we formally flip our ‘weekend mode’ change on.
Citigroup has closed a $39 million CMBS refinance for RIMCO’s 335 West sixteenth Avenue within the Chelsea neighborhood of Manhattan, Business Observer has discovered.
B6 Real Estate Advisors’ Steven Sperandio, a accomplice and senior managing director on the agency, negotiated the deal together with B6 managing director Matt Shatz, whereas Citi’s Eric Mirvis led the senior mortgage on behalf of the lender, sources mentioned.
The financing closed on Could 27.
The property is house to the Faculty of Visible Arts (SVA), which leases the constructing in its entirety—54,000 sq. toes— and primarily makes use of the area for its world-renowned Fantastic Arts Division.
SVA’s fast progress hasn’t been derailed by COVID, and the multidisciplinary school of artwork and design not too long ago renewed its lease on the property for a 20-year time period with none termination choices in a triple-net-lease construction.
The constructing has a first-rate Chelsea location, too, sitting instantly throughout the road from Google’s huge campus and in shut proximity to the Dream Downtown Resort and the Maritime Resort.
As CO beforehand reported, Sperandio can be main the sale of 251 Flagler Street — a 2.5-acre assemblage — in Downtown Miami.
Officers at B6 and Citi couldn’t instantly be reached for touch upon Friday afternoon.