Olnick secures $85M to refi Soho office building

First Republic Bank is the lender for 63-67 Prince Street

TRD NEW YORK /
Feb.February 24, 2017 01:15 PM

Olnick Organization locked down $85 million to refinance its office-and-retail Building On Prince Street in Soho.

First Republic Bank provided the financing, according to records filed with the city Friday. The loan includes a new $29.2 million mortgage, and replaces a $62 million loan from AXA Equitable Life Insurance, issued in 2008.

The building at 63-67 Prince Street has an alternative address at 256-268 Lafayette Street, and spans 169,960 square feet across 15 stories.

Olnick’s TRData LogoTINY portfolio includes 130 Fifth Avenue, a 145,000-square-foot office building, and 200 East 87th Street, a 23-story residential building.

In 2015, tenants at Olnick’s Lenox Terrace complex in Harlem accused the firm of illegally raising rent on their stabilized apartments.

Representatives from Olnick and First Bank declined to comment.


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