Newmark arranged a $58.5-million loan on behalf of Capstone Equities to acquire 205 W. 28th St., a new-construction, boutique Class A office building in Chelsea. Co-president, global debt & structured Finance Jordan Roeschlaub, senior managing director Daniel Fromm and director Chris Lozinak secured the financing from a joint venture between 1823 Partners, LLC and an affiliate of Savanna Asset Management.
Newmark co-heads of U.S. Capital Markets Adam Spies and Doug Harmon, alongside Executive Vice Chairmen Adam Doneger and Marcella Fasulo, represented the seller, Corem Property Group, in the $81-million sale.
“This transaction not only marks our acquisition of a best-in-class asset but also reflects our continued partnership with Newmark across investment sales and debt and structured finance,” said Josh Zamir, founding partner, Capstone Equities. “We look forward to building on that collaboration.”
Delivered in 2022, 205 W. 28th is a 100,000-square-foot boutique office building catering to a diverse mix of tenants seeking new-construction quality and premium design in a central Midtown South location.
Photo courtesy of Cushman & Wakefield.
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