PCCP Provides $148M Loan for Refinancing of Midtown Manhattan Office Building

by Taylor Williams

NEW YORK CITY — Los Angeles-based PCCP LLC has provided a $148 million loan for the refinancing of 1410 Broadway, a 387,265-square-foot office building in Midtown Manhattan. Designed by Ely Jacques Kahn and originally constructed in 1930, the property is located in the Garment District and was 78 percent leased at the time of the loan closing. The borrower, New York City-based L.H. Charney Associates, has owned and managed the property since 1981. Between 2013 and 2020, the company implemented a $14.2 million capital improvement program that included a façade restoration and full renovation of the lobby, corridors, elevators and bathrooms.

You may also like