FINDING VALUE OTHERS OVERLOOK

PRESS

Featured News

JANUARY 30, 2017

Hidrock Pays $31M for Boerum Hill Mixed-Use Building
- The Real Deal

JANUARY 11, 2017

NYC’S Tanking Hotel Market is Coming Back in 2017
- Bisnow

JANUARY 6, 2017

Hidrock Locks in $101M in Loans for 31-story Midtown hotel
- The Real Deal

JANUARY 4, 2017

Union Investment Nabs NYC Marriott Hotel In $203M Deal
- Law360

Archives

JULY 25, 2012

HIDROCK REFINANCES GARMENT DISTRICT BUILDING

- Real Estate Weekly


Hidrock Realty has secured a $16.1 million refinancing for 35 West 36th St. from
Assurant, the original lender, at a 3.89 percent interest rate.

"Now is a great time to refinance commercial properties, as the lower interest rate environment has given owners the opportunity to increase income by lowering monthly payments," said Abraham Hidary, president of Hidrock Realty. "By lowering our interest rate, we have significantly reduced our mortgage debt costs."

Hidrock acquired the 12-story, 79,200 s/f Class-B property in 2007 and began renovations in 2008 to create loft-style office and showroom suites ranging from 2,500 to 6,500 s/f.

The firm also reconfigured the spaces to attract high-quality tenants. 35 West 36th St.
is currently 96 percent occupied, with a lease out on the remaining availability.

 

VIEW FULL ARTICLE 

2012-July