Goldman Sachs funds $900M refi at One Soho Square


Stellar Management, along with minority owner Imperium
Capital, has secured a $900 million refinancing package for One Soho Square, a
Class A office and retail property.

Goldman Sachs provided the loan, which was arranged by a
Cushman & Wakefield team led by Alex Hernandez.

Located at 233 Spring Street and 161 Sixth Avenue, One Soho
Square consists of the 13-story One Soho Square East and the 15-story One Soho
Square West, totaling a combined 768,000 s/f.

Originally built in 1904 and 1926, Stellar purchased the
buildings for $200 million in 2012 and spent another $50 million transforming
them into modern offices with amenities such as a rooftop deck, private outdoor
terraces, 24/7 concierge, a messenger center, secure bike facilities, new
passenger elevators and mechanical systems and new bathrooms.

The property is anchored by healthcare technology firm Flatiron
Health, which occupies 252,452 s/f. Other leading tenants include MAC Cosmetics,
Trader Joe’s, CVS and Aetna Life Insurance Co.

One Soho Square is reportedly 92 percent occupied.

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