RFR Lands $22M Mesa West Loan for Noho Building Grab
By Terence Cullen October 15, 2015 10:00 am
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Mesa West Capital provided a $22 million loan toward RFR Realty’s $20.8 million purchase of 337 Lafayette Street, a person in the know told Commercial Observer.
RFR acquired the three-story office building in Manhattan’s Noho neighborhood on Oct. 2, records recently filed with the city show. The terms of the debt were not disclosed.
The Lafayette Street property marks the second buy in the area for the real estate investment firm this year, following its July purchase of 11 Bond Street right around the corner. RFR paid $26 million for 11 Bond Street, according to city records.
The 9,765-square-foot building at 337 Lafayette Street is completely occupied by A.J. Muste Memorial Institute, a social justice advocacy group. The Real Deal reported in July that the tenant is expected to stay at the building for eight months rent free after the sale closed.
RFR has become increasingly interested in the area along the Bowery. “We feel this location is in one of the hottest and stylish neighborhoods in Manhattan,” the firm’s co-founder, Aby Rosen, told CO via a spokesman for an unrelated story in July.
Mr. Rosen’s company has turned around the graffiti-covered 190 Bowery and leased its entire 29,750 square feet of commercial space to a consortium of photo-related companies.
Representatives for RFR and Mesa West declined to comment on the 337 Lafayette Street deal.
