Zar gets $48M loan for Soho office building

Mortgage for 64 Wooster Street comes from Citi Real Estate Funding

TRD New York /
Jan.January 08, 2018 01:00 PM

Zar Property NY has nabbed a $48 million loan for its Soho office building at 64 Wooster Street.

The 10-year CMBS loan comes from Citi Real Estate Funding and features full-term interest-only payments, according to property records and Meridian Capital Group, which negotiated the financing.

The Wooster Street building was constructed in 1900, spans 54,300 square feet and houses 10 tenants.

Zar purchased a 13-story office building at 250 West 54th Street for about $83 million in February, and the company began buying out its equity partner the Nassimi family for their commercial buildings in Soho at 42 Greene Street and 90 Grand Street in March.

Meridian’s Isaac Filler served as the broker on the deal. Representatives from Meridian did not immediately respond to requests for comment, while representatives from Zar and Citi declined to comment.

Related Articles


Real estate stocks push up this week as U.S.-China trade tensions ease

416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case

An example of roll-off waste management (Credit: YouTube, iStock)

Big building owners prevent city from dumping container-pickup in trash-collection reform

Joel Schreiber (Credit: Shir Stein and Wikipedia)

WeWork’s first investor used his stock as collateral. Now his lenders are suing him

“I can talk about erections all day”: NAR tech consultant’s bizarre fireside chat

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

163 North 6th Street and the Tel Aviv Stock Exchange Bull (Credit: Google Maps, Wikipedia)

Joel Gluck’s Israeli bond issuance falls through as Williamsburg rental project faces financing crunch

Council member Vanessa Gibson (Credit: New York City Council)

Commercial landlords face new fines as City Council passes anti-harassment bill