Deutsche Pfandbriefbank Refis Meatpacking Retail Property With $123M Loan
By Andrew Coen April 15, 2022 11:44 am
reprints
Aurora Capital Associates has landed a $123.4 million debt package to refinance its retail property in Manhattan’s Meatpacking District.
PincusCo first reported the deal.
Deutsche Pfandbriefbank provided the loan for Aurora through its entity, 60-74 Gansevoort Street, for the building at 809 Washington Street. Newmark’s Dustin Stolly and Jordan Roeschlaub arranged the financing, sources told CO.
JPMorgan Chase previously supplied a $60.2 million loan to Aurora for 809 Washington, which features 74,496 square feet of built space and 8,461 square feet of additional air rights, according to a PincusCo analysis of the deal.
The 809 Washington property is zoned for light manufacturing, according to PropertyShark, in the Gansevoort Market Historic District. New York City’s designated market value for the property in 2022 is $5.8 million, per PincusCo.
“The Meatpacking District has been one of the most resilient retail areas in Manhattan,” David McNeil, head of Deutsche Pfandbriefbank’s New York office, said in a statement. “Aurora’s renovation and expansion of historic buildings in the neighborhood serves both retail tenants at ground level as well office users above.”
Officials for Aurora Capital Associates and Newmark did not immediately return requests for comment.
Andrew Coen can be reached at acoen@commercialobserver.com.
