GDS Brightstar, the lending platform of New York-based real estate firm GDSNY, Maxim Capital Group, and Sabal Investment Holdings, the real estate investment management firm serving institutional investors, and today announced that they closed a $50 million loan for 114 Crosby Street (also known as 580 Broadway), a newly renovated boutique office building located in SoHo and redeveloped by Chelsfield Group, a London-based developer, and RAM Holdings.
Located between Prince Street and West Houston, 114 Crosby Street is a class-A property totaling 12 stories and 144,000 square feet. The all-electric building features renovated lobbies on both Crosby Street and Broadway, 11,400-square-foot office floor plates with 13-foot ceiling heights, and a private roof terrace for office tenants with unobstructed views of the New York City skyline. More than half of the building has been leased since marketing launched last summer.
Additionally, the 14,400-square-foot ground-floor and lower-level retail space has been leased to Arc’teryx, the luxury outdoor apparel brand. In addition to the state-of-the-art apparel shopping experience, the company will also soon be opening a flagship Arc’teryx coffee shop in the building.
