The Real Deal New York

Pinky Realty secures $58M to refi three NoMad buildings

Natixis is the lender for the mixed-use buildings on Broadway

December 16, 2016 01:30PM
By Miriam Hall

1204-1216 Broadway in NoMad (credit: Google Maps)

Pinky Realty’s Raizada Vaid locked down $58 million to refinance three adjacent mixed-used buildings in NoMad.

Natixis Real Estate Group provided the financing, which consolidates previous loans from Sovereign Bank and RCG Longview, according to property records filed with the city Thursday.

The properties include 1204-1210 Broadway, 1212 Broadway and 1214-1216 Broadway. The three buildings have a mix of office and retail space. Last year, Vaid put the retail portions of the buildings — along with a fourth property he owns at 28 West 30th Street — on the leasing market. The four buildings have a combined 30,000 square feet of retail space.

Vaid, a Koreatown-based jeweler, also owns a property at 876 Sixth Avenue, at the corner of 31st Street. In 2015, he filed plans with the city to build a 37-room hotel spanning 17,700 square feet, but it doesn’t appear work has begun.

Representatives for Vaid and Natixis could not immediately be reached for comment.

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