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**Barings Provides $230M Refi on SoHo Mixed-Use Properties**
Newmark has arranged a $230-million refinancing on behalf of Northwood Investors for 520-524 Broadway, a pair of historic retail and office properties located in the heart of SoHo. The financing was led by Jordan Roeschlaub, Co-President of Global Debt and Structured Finance, and Nick Scribani, Vice Chairman at Newmark. The funds were secured through Barings, with Jonathan Neff leading the transaction on their behalf.
The refinancing includes additional funding provisions to support future leasing efforts for both the retail and office components of the properties. While specific loan terms were not disclosed, the financing signals continued investment confidence in SoHo’s high-profile mixed-use assets.
The properties, originally constructed in 1901 and 1903, are classic Beaux-Arts limestone buildings totaling 235,000 square feet. Located at the prominent southeast corner of Broadway and Spring Street, one of New York City’s premier retail destinations, the buildings include 55,000 square feet of ground-floor retail and 180,000 square feet of office space. Current tenants include well-known names such as Balthazar, Lululemon, and an upcoming Abercrombie & Fitch location. The office component is anchored by tenants like WeWork.
The refinancing underscores both the enduring appeal of SoHo’s historic architecture and the resilience of its retail and office markets.
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