Zar Property took out a $37 million loan from TD Bank to refinance its residential, office and retail property at 64-68 Wooster Street in Soho, city records show.
The floating-rate loan carries a term of three years and six months, confirmed TD Bank Senior Vice President Howard Hsu, who led the transaction on behalf the lender.
On the Market
Glasgow Caledonian University, one of the largest universities in Scotland, opened its first New York City campus at 64-68 Wooster Street in Soho yesterday, Commercial Observer has learned, to coincide with Scotland Week.
As Commercial Observer reported last October, the school signed a 15-year, 13,500-square-foot lease for the entire ground floor and lower level. The school has been doing construction ever since, landlord Zar Properties’ David Zar said.
A 12,600-square-foot retail condominium at 62-66 Thomas Street in Tribeca, home to upscale Japanese restaurant Megu, is on the market after a price reduction and company buyout aimed at expanding the brand worldwide.
The price was reduced to $14.7 million from $16.8 million, as a new ownership group forges big plans for the brand, sources tell the The Commercial Observer.
Stranger & Stranger, a liquor branding and packaging design company based in London, has taken the penthouse space at 42 Greene Street as its new SoHo office, The Commercial Observer has learned.