Family office of billionaire H&M leader signs $61M refi with Swedish bank for property in SoHo

The family office of longtime H&M executive and billionaire Stefan Persson, known as Ramsbury Property, through the entity 106 Prince Street LLC as borrower, signed a refi loan with lender Handelsbanken through the entity Svenska Handelsbanken Ab (Publ) valued at $61 million for eight properties with four residential units including the four-unit mixed-use building (K9) at 122 Greene Street in SoHo, Manhattan, retail condo at 114 Greene Street in SoHo, Manhattan, and retail condo at 118 Greene Street in SoHo, Manhattan.
The deal closed on September 9, 2025 and was recorded on September 29, 2025. The prior lender was UBS which held debt that had an original loan amount of $65 million.The eight properties have 20,440 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $2,984 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Ramsbury Property was Lars Drangel and Ola Nilsson .

Prior sales and revenue

The owners according to the Department of Housing Preservation and Development includes Robert Holland, head officer and Anne Abbott, officer. The business entity is 106 Prince Llc. Out of the eight properties, one with a total of 20,440 square feet of built space generated revenue of $1 million per year.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have not received any significant violations in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In SoHo, The bulk, or 46 percent of the 9.5 million square feet of commercial built space are office buildings, with mixed-use buildings next occupying 14 percent of the space. In sales, SoHo has 3.1 times the average sales volume among other neighborhoods with $884.7 million in sales volume in the last two years and is the 12th highest in Manhattan. For development, SoHo has had very little major development activity relative to other neighborhoods.It had 431,854 square feet of commercial and multi-family construction under development in the last two years, which represents 5 percent of the neighborhood’s built space.

The block

On the tax block of 122 Greene Street, PincusCo has identified the owners of three of the 13 commercial properties representing 206,865 square feet of the 316,967 square feet. The largest owner is Sl Green Realty, followed by Arkray Inc. and then Carl Stefan Erling Persson.
There are no active new building construction projects on this tax block.

The majority, or 66 percent of the 316,967 square feet of built space are office buildings, with mixed-use buildings next occupying 19 percent of the space.

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