Microsoft-Anchored SoHo Building Scores $85M Refinance Loan

A Manhattan mixed-use property anchored by Microsoft has secured an $85 million loan to refinance its mortgage. Hudson Bay Capital provided the funding for the seven-story building at 300 Lafayette Street, where the tech giant occupies nearly all of the office space.

The property, which also houses retail tenants including Neko Health and New Era, boasts a COOKFOX design and was completed in 2019. Microsoft signed a long-term lease with the property's owners in March of that year, just as construction finished up.

According to InterVest Capital Partners, the loan reflects the strength of the property and its tenancy. 'Buildings like this are nearly impossible to replicate at today’s replacement costs,' said Rob Rothschild, managing director and head of real estate at InterVest Capital Partners.