DivcoWest signs $112.2M acquisition loan with United Overseas Bank for office building in Soho

DivcoWest through the entity DWF VI 325 Hudson, LLC as borrower signed an acquisition loan with lender United Overseas Bank Limited valued at $112.2 million for the office building (O6) at 325 Hudson Street in Soho, Manhattan.
The deal closed on May 20, 2021 and was recorded on June 9, 2021.
The property has 193,813 square feet of built space and 973 square feet of additional air rights for a total buildable of 194,700 square feet according to PincusCo analysis of city data. The loan price per built square foot is $578 and the price per buildable square foot is $576 per the PincusCo analysis.
The owner bought the property on 2-Jun-21, for $134.1 million.
The signatory for DivcoWest was Kenneth Wong. The signatory for United Overseas Bank was Eriberto de Guzman and Vijay Kant.

This is the acquisition and rehab construction loan for DivcoWest’s $134 million purchase from Jamestown. The loan is composed of $83.9 million in an acquisition loan, $22.6 million in a building loan and $5.7 million in a project loan. The prior debt was $60 million given by Capital One to Jamestown.

Direct link to Acris document. link