The Real Deal New York

Zar gets $48M loan for Soho office building

Mortgage for 64 Wooster Street comes from Citi Real Estate Funding
By Eddie Small | January 08, 2018 01:00PM

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.