NEW YORK—Hudson Realty Capital LLC has funded a $5.275 million first mortgage loan secured by a 13,707-sq.-ft. mixed-used building in Manhattan’s Nolita neighborhood. The sponsor utilized the loan proceeds to recapitalize the property’s maturing debt and establish operating reserves.
The fully occupied early-20th Century building, located near the intersection of Kenmare Street and Bowery, is comprised of 15 residential units and two ground-floor commercial units.
Bounded to the north by Houston Street, east by Bowery, south by Broome Street and west by Lafayette, the emerging district offers residents boutiques, restaurants and bars.
Prominent neighborhood landmarks include the Puck Building and St. Patrick’s Old Cathedral.