JLL Capital Markets arranged a $40-million refinancing for 99 Hudson St., a 183,958-square-foot office building located in Lower Manhattan’s Tribeca neighborhood. JLL represented the borrower, an affiliate of Olshan Properties. The loan was provided by an insurance company.
Built in 1930, 99 Hudson St. is a 17-story Class B office building that was acquired by Olshan in 1983 and later upgraded with a new lobby, façade, elevators, mechanical and electric systems. Several floors feature expansive open-plan loft office suites and the property is approximately 97% occupied.
The JLL Capital Markets team representing the borrower was led by senior managing director Steven Klein.
“Tribeca continues to stand out as a strong office submarket, supported by limited supply, low vacancy and sustained tenant demand,” said Klein. “This financing reflects lender confidence in both the asset’s performance and Olshan Properties’ long-term ownership strategy.”
