The Real Deal New York

Garment District office building gets $70M in refinancing from JPMorgan

Money went to George Comfort & Sons for building at 307 West 38th Street
December 07, 2017 08:00AM

307 West 38th Street

UPDATED: Monday, Dec. 11 at 1:58 p.m.: JPMorgan Chase has provided management company George Comfort & Sons with $70 million to refinance their office building at 307 West 38th Street.

The banking giant refinanced a loan of $35 million originated in 2014 by Barclays and supplemented this with a $35 million bridge loan for the 302,326-square-foot Garment District property, according to the Commercial Observer.

The 20-story office building was constructed in 1927 and is currently 90 percent occupied, with tenants including Vanguard Construction, Kaleidoscope Imaging of New York and Tiger Button Company. [Commercial Observer] – Eddie Small

Correction: The building is located in the Garment District, not Chelsea.