Manhattan, NY

$18,000,000 First Mortgage

In November 2025, an $18.0 million first mortgage was provided to refinance a mixed-use property located at 408–410 Broadway in Lower Manhattan. The five-story historic building comprises approximately 80,000 square feet and was 81% occupied at closing, supported by strong in-place cash flow. The business plan focused on extending existing leases and leasing remaining vacancy, with additional optionality to convert the asset to self-storage, a permitted use in this specific submarket.

The property is located just south of Canal Street at the intersection of SoHo and Tribeca, within one of Manhattan’s most trafficked and desirable commercial corridors.