NEW YORK—CBRE’s Keith Braddish, executive vice president, and Jason Gaccione, vice president, have secured a five-year, interest-only acquisition loan of $18.5M for a 26,500-sq.-ft. retail condominium located at 156-168 Bleecker Street in Greenwich Village.
The borrower was a joint venture between JMC Holdings and RWN Real Estate Partners, which chose to opt for a fixed rate of 4.5 percent. The loan was made at a 60 percent loan-to-value.
A $2M capitalin the property is planned, which will include new storefronts, signage and façade.
Located at the base of a Pre-War art-decoapartment building constructed in 1910, the property is home to Le Poisson Rouge, a nightclub in the basement floor that includes 15-ft. ceiling heights. CVS is the largest ground-floor tenant, occupying approximately 7,000 sq. ft. In total, seven retail tenants occupy the building.