JLL Capital Markets has arranged a $40 million refinancing for 99 Hudson Street, a 183,958-square-foot office building in Tribeca, Manhattan. The borrower is an affiliate of Olshan Properties, a privately held real estate investment firm. Built in 1930, the 17-story Class B office building has been owned by Olshan since 1983. The property is located at the corner of Hudson and Franklin Streets.
99 Hudson Street, via Olshan Properties.
In recent years, 99 Hudson Street has undergone upgrades that include improvements to the lobby, façade, elevators, and mechanical and electrical systems. Several floors offer open-plan loft-style office suites. The building is approximately 97 percent occupied by tenants including Chobani, Daily Harvest, HR&A Advisors, and ODA Architecture.
99 Hudson Street, via Olshan Properties.
The property is positioned within Tribeca’s office market, which includes a mix of creative, technology, and professional services tenants. Transit nearby 99 Hudson Street includes the Franklin Street station served by the 1 train, as well as the Canal Street station with access to the A, C, E, J, Z, N, Q, R, and W subway lines.
“Tribeca continues to stand out as a strong office submarket, supported by limited supply, low vacancy and sustained tenant demand,” said Steven Klein, managing director at JLL. “This financing reflects lender confidence in both the asset’s performance and Olshan Properties’ long-term ownership strategy.”
Subscribe to YIMBY’s daily e-mail
Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews
What is that beautiful old residential building across the street, it looks to be from another world..
That is 105 Hudson Street aka the Powell Building. It’s a prewar mix used co op that was partially converted in the 70s for residential occupancy on the upper floors. Massive loft layouts on some units. Baby and you want architecture? Character? She is her! She oozes with richness. WE could NEVER!
99 Hudson would be a good condo conversion.
I’ve thought that for most of life