Capstone Lands $59M Acquisition Loan for 205 West 28th Street

Joshua Zamir’s Capstone Equities has secured $58.5 million in acquisition financing to buy a boutique office building on 28th Street in Chelsea. 

Savanna Asset Management and 1823 Partners provided the debt, while Newmark’s Jordan Roeschlaub, Daniel Fromm and Chris Lozinak arranged the financing according to a release Wednesday. 

The Real Deal previously reported in July 2025 that Capstone Equities bought the 100,000-square-foot building at 205 West 28th Street, also known as 28&7, from Corem Property Group and GDS Development Management for $83 million. 

Newmark also represented Corem Property Group in the sale, with Adam Spies, Doug Harmon, Adam Doneger and Marcella Fasulo facilitating that side of the deal. 

Zamir, founding partner of Capstone Equities, described the Class A office building as “a best-in-class asset” in a statement and mentioned his firm’s repeated relationship with both arms of Newmark’s capital markets business. 

“[This transaction] reflects our continued partnership with Newmark across investment sales and debt and structured finance,” said Zamir. “We look forward to building on that collaboration.”

Located in the heart of Manhattan in the neighborhood of Chelsea — at the corner of Seventh Avenue and West 28th Street in the heavily repurposed neighborhood of the Fashion District — 205 West 28th Street stands 12 stories tall and features a black terra cotta façade. 

The office building is 100 percent leased, with tenants that include Sweden-based Epidemic Sound and Injective Labs and a ground-floor retail tenant Joe & the Juice. 

Avi Kollenscher, partner at Capstone Equities, called 205 West 28th Street “a next-generation office product,” in a statement. 

“It’s design-forward, strategically located and positioned to deliver the workplace experience that occupiers are seeking today,” he added. 

Brian Pascus can be reached at bpascus@commercialobserver.com.