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**Taconic’s 817 Broadway Secures $129M in Refinancing**
GreenBarn Investment Group and Sabal Investment Holdings have partnered to refinance 817 Broadway, a landmark office property in New York City’s Greenwich Village. The refinancing package includes a $37.5 million mezzanine loan and a $91 million senior mortgage provided by Ares Real Estate funds, totaling $129 million.
Owned and developed by Taconic Partners, 817 Broadway is a 14-story, 140,000-square-foot Class A boutique office building located at the corner of Broadway and 12th Street. Originally constructed in 1895, the property has undergone a comprehensive renovation that maintained its historic architecture while integrating modern upgrades. Enhancements included new building systems, a restored façade, and premium tenant amenities. The building is currently fully leased.
“The success of 817 Broadway is a testament to a thoughtful development approach that revived a piece of New York’s history and delivered an exceptional tenant experience,” said Chris Balestra, president and chief investment officer at Taconic Partners. “Taconic is pleased to refinance this property with GreenBarn, Sabal, and Ares, and is bullish on the overall office market in New York City as we actively seek to add to our portfolio.”
Newmark’s Adam Spies and Adam Doneger served as advisors on the transaction.
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