Taconic signs $90M refi with Ares Commercial for office building in West Village

Taconic Partners through the entity 817 Broadway Owner LLC as borrower signed a refi loan with lender Ares Commercial Real Estate Management through the entity Ares Cre Lender LLC valued at $90 million for the office building (O6) at 817 Broadway in West Village, Manhattan.
The deal closed on July 2, 2021 and was recorded on July 19, 2021.
The property has 114,383 square feet of built space. The loan price per built square foot is $786 per the PincusCo analysis.
The owner bought the property on 30-Nov-16, for $109 million.
The signatory for Taconic Partners was Andrew Zlotnick.
(123119446)The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on October 8, 2020.
Within a 400-foot radius of 817 Broadway, PincusCo identified eight commercial real estate items of interests occurred over the past 24 months.
Of those eight items, one was in new building development. It was a new building permit application filed on December 28, 2020 for a 30,000-square-foot residential R-2 building with 40 residential units residential units at 815 Broadway.
Of those eight items, one was for major renovation including a certificate of occupancy change. It was an initial temporary certificate of occupancy issued on March 6, 2020 for the $6.5 million renovation of 0-square-foot B building with two residential units at 809 Broadway.
Of those eight items, three were sales above $5 million totaling $41.0 million. The most recent of the three was Asaf Evenhaim which bought one condo unit in the 6,325-square-foot, six-unit condo building (R1) on 37 East 12th Street for $15.5 million from Edward J. Minskoff Equities on March 15, 2021.
Of those eight items, three were loans above $5 million totaling $44.4 million. The most recent of the three was Ariel Rom which borrowed $16.9 million from Bank Hapoalim B.M. secured by three condo units in the 26,429-square-foot, three-unit mixed-use building (RC) on 809 Broadway on February 18, 2021.

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