Related signs $75M refi with Wells Fargo for mixed-use building in Greenwich Village

Related Companies through the entity Union Square Retail Lessee, LLC as borrower signed a refi loan with lender Wells Fargo valued at $75 million for the mixed-use building (K2) at 842 Broadway in Greenwich Village, Manhattan.
The deal closed on September 10, 2021 and was recorded on October 1, 2021.
The property has 236,215 square feet of built space and 245,937 square feet of additional air rights for a total buildable of 482,230 square feet according to PincusCo analysis of city data. The loan price per built square foot is $317 and the price per buildable square foot is $155 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 owner bought the property on October 2, 2007, for $14.4 million.
The signatory for Related Companies was Matthew Worley.

Within a 400-foot radius of 842 Broadway, PincusCo identified three commercial real estate items of interests occurred over the past 24 months.
One of those three items was a sale which Premier Equities, Jenel Real Estate and others bought four condo units in the 11-unit mixed-use building (RM) on 835 Broadway for $11.5 million from Kenart Realties on November 27, 2019.
Of those three items, two were loans above $5 million totaling $18 million. The most recent of the two was Suresh Sachdev which borrowed $10 million from New York Community Bank secured by the 34,708-square-foot, 27-unit rental (D5) on 52 East 13th Street on May 15, 2020.

Direct link to Acris document. link