Manhattan, NY

$28,000,000 First Mortgage

In November 2025, a $28.0 million first mortgage was provided to refinance a loan-on-loan secured by a prime mixed-use property located at 419–423 Broadway in Lower Manhattan. The asset comprises approximately 8,700 square feet and was vacant at closing, with a clear path to stabilization driven by a newly executed long-term lease and a comprehensive renovation program.

The business plan includes delivering a new Bank of America branch on the ground floor under a 15-year lease, along with residential units above, positioning the asset for durable cash flow and long-term value creation in a supply-constrained downtown submarket.