Newmark Arranges $85 Million Refinancing for InterVest Capital Partners at 300 Lafayette Street in SoHo

Newmark has arranged an $85 million refinancing of 300 Lafayette Street, a mixed-use office and retail property in Manhattan's SoHo neighborhood, on behalf of InterVest Capital Partners. Hudson Bay Capital provided the loan, the firm announced Sept. 24, 2026.

The Property: A Microsoft-Anchored Asset at SoHo's Gateway

Situated at the intersection of Lafayette, East Houston and Crosby Streets, 300 Lafayette Street serves as a gateway to SoHo, NoHo and NoLita. The seven-story, 82,000-square-foot building was delivered in 2019 and designed by COOKFOX Architects. Its features include floor-to-ceiling glass, virtually column-free floorplates and more than 10,000 square feet of landscaped outdoor terraces.

Microsoft occupies the entire 63,000-square-foot office component across floors two through seven. The retail tenancy is leased to Neko Health, New Era and Goldwin. The property is located near the Broadway-Lafayette Street and Bleecker Street subway stations.

"300 Lafayette Street is as good as boutique product gets in Lower Manhattan, new construction by COOKFOX with a fully occupied office component anchored by Microsoft and retail on one of the most heavily trafficked corners in SoHo," said Nick Scribani, vice chairman at Newmark. "Lender interest was deep and competitive, and Zach Cion and the Hudson Bay Capital team delivered speed and certainty of execution for the sponsor."

The Financing: Newmark Team and Hudson Bay Capital

The Newmark team that arranged the financing included Jordan Roeschlaub, co-head of Global Debt & Structured Finance; Nick Scribani, vice chairman; John Caraviello, managing director; and Ryan Bub, associate director. Zach Cion led the effort on behalf of lender Hudson Bay Capital.

Rob Rothschild, managing director and head of real estate at InterVest Capital Partners, described the asset as difficult to replicate in the current environment. "300 Lafayette is an irreplaceable asset, anchored by an AAA investment-grade credit tenant, and a new-construction building on a corner that defines the entrance to SoHo. Buildings like this are nearly impossible to replicate at today's replacement costs," Rothschild said. "This financing reflects the strength of the property and its tenancy. Hudson Bay Capital was a strong partner throughout, and the Newmark team ran an efficient process from start to finish."

Market Context: Flight-to-Quality Lending in a Selective Office Market

The refinancing arrives during an uneven recovery in Manhattan's office market. Manhattan's overall office vacancy rate declined to 19.3% in the second quarter of 2026, the lowest quarterly level since the third quarter of 2021, while overall asking rents stood at $72.83 per square foot and Class A asking rents reached $84.79 per square foot. Nationally, U.S. office vacancy fell to 18.3% in the second quarter of 2026, with prime vacancy declining to 12.3%; Midtown Manhattan's prime vacancy was substantially lower, at 2.2%.

Against that backdrop, 300 Lafayette Street presents a profile that diverges sharply from the broader market. The office component is fully leased to a single investment-grade technology tenant, limiting rollover and leasing risk. The building's 2019 delivery date reduces near-term capital needs relative to older office stock, and its location at a high-traffic SoHo corner provides retail visibility across multiple neighborhoods. Those characteristics help explain the competitive lender interest Scribani described.

InterVest Capital Partners is a New York-based global alternative investment manager specializing in real estate, specialty finance and asset-based finance. The firm, which is 100% employee-owned and controlled, has invested $27.5 billion in alternative strategies since inception, including more than $12.8 billion in U.S. real estate mandates. InterVest maintains teams in New York, London and Luxembourg.

Newmark Group, Inc. (Nasdaq: NMRK) generated revenues of more than $3.6 billion for the twelve months ended June 30, 2026, and operates from more than 195 offices with more than 10,000 professionals across four continents.

Sources

Newmark Press Release: Newmark Arranges $85 Million Refinancing of 300 Lafayette Street in SoHo, Manhattan