JLL Arranges $19M Acquisition Loan for Mixed-Use Property in Manhattan

NEW YORK CITY — JLL has arranged a $19 million acquisition loan for a mixed-use property in the SoHo neighborhood of Manhattan. Located at 489 Broadway, the five-story, 10,710-square-foot building was constructed in 1900. The property consists of eight residential and three retail units. Eliott Zeitoune, Michael Diaz, Aaron Appel, David Sitt and Brendan Collins of JLL secured financing on behalf of the borrower, Sherr Equities, through lender Morgan Stanley. Sherr Equities specializes in acquiring mixed-use assets with the intent to restore and redevelop them.