NEW YORK CITY — CBRE Capital Markets has secured $10.2 million for the refinancing of a retail condominium and a three-property retail condo portfolio located in New York City. The first retail condo is located at 170 Fifth Ave.; it totals 2,833 square feet and is occupied by Zales Jewelers. The Village Retail Portfolio totals 9,843 square feet; it comprises 355 and 361 Greenwich St., and 496 Laguardia Place. The properties are occupied by The Harrison, Flor de Sol, and Five Guys Burgers and Fries, respectively. Terms of the loan include a 5-year terms with a 30-year amortization schedule priced over the 5-year U.S. Treasury Security, as well as a 65 percent loan-to-value ratio. Keith Braddish and Jason Gaccione of CBRE Capital Markets arranged the loan on behalf of the undisclosed borrower through a commercial bank.
The Zales Jewelers located at 170 Fifth Ave. in New York City is one of four retail condominiums refinanced by CBRE Capital Markets.
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