Jeff Sutton lands $176M refi for 1551 Broadway
Jeff Sutton’s Wharton Properties scored a $176 million refinancing for a marquee Midtown retail property in Times Square. Acore Capital provided a three-year, floating-rate loan for 1551 Broadway, the site of American Eagle’s 26,000-square-foot flagship store, The Real Deal has learned. The refi comes two years after Sutton secured an extension on a $180 million CMBS loan backed by the property. That loan was paid off in February, according to Morningstar. A Newmark team of Anthony Orso, Clifford Welden and Henry Stimler brokered the deal. The loan replaces the CMBS loan originated in 2011 by Citigroup. The loan matured in […]
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