AB & Sons Group gets $106M refi from Wells Fargo for retail in Soho

AB & Sons Group through the entity Salva Delaware, LLC as borrower signed a loan agreement with lender Wells Fargo Bank, N.A. valued at $106.5 million for 1 parcel, including the tax class retail building with apartments above (K4) and containing 15 residential units at 546 Broadway in Soho. The deal closed on March 12, 2021 and was recorded on March 23, 2021.
The property contains a total of 96,000 square feet of built space.

The existing principal at the time of the refinance was $110.9 million, down from the original loan of $125 million.
Over the past five years, there have been 6 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $30,000.0. There were 5 renovation/alteration projects (A2) applied for with a total estimated value of $1,425,550.

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