NEW YORK—Manhattan-based Hidrock Realty secured a $16.1 million refinancing for 35 West 36th Street from Assurant, the original lender, at a 3.89 percent interest rate.
Hidrock acquired the 12-story, 79,200-sq.-ft. Class-B property in 2007 and began extensive renovations in 2008 to create loft-style office and showroom suites ranging from 2,500 to 6,500 sq. ft. Currently, 35 West 36th St. is 96 percent occupied, with a lease out on the remaining availability.
Located between Fifth Avenue and Avenue of the Americas, 35 West 36th Street recently achieved Energy Star rating from the U.S. Environmental Protection Agency. The newly renovated building features full- and half-floor office configurations, environmentally friendly details such as lighting fixtures, private restrooms for tenants, private elevator access to each tenant’s space, a doorman and 24-hour keycard access.