{"id":8463,"date":"2017-04-25T08:17:57","date_gmt":"2017-04-25T08:17:57","guid":{"rendered":"https:\/\/www.commercialcafe.com\/blog\/?p=8463"},"modified":"2025-07-22T15:57:05","modified_gmt":"2025-07-22T12:57:05","slug":"capital-one-refi-ruben-manhattan","status":"publish","type":"post","link":"https:\/\/www.commercialcafe.com\/blog\/capital-one-refi-ruben-manhattan\/","title":{"rendered":"Capital One Issues $40M Refi for Ruben Companies’ Manhattan Office Building"},"content":{"rendered":"
\"\"<\/a>

161 William St (wikimapia)<\/em><\/p><\/div>\n

Capital One announced that it has provided a $40 million refinance loan for a Lower Manhattan office building<\/a> owned by Jack Resnick & Sons and the Ruben Cos.<\/p>\n

Proceeds were used to pay an existing CMBS loan and to fund capital improvements – the\u00a0flexible rate loan on the 22-story, 216,204-square-foot office building at 161 William Street has five years of interest-only payments.<\/p>\n

Jack Resnick & Sons and the Ruben Cos. have jointly owned the building since 1978 and have continually modernized it. The latest property update was in 2009, when a new marble lobby was installed, along with a new cooling tower and an upgraded elevator system. The Financial District office building<\/a> has a long-term anchor tenant, namely Pace University, which has steadily increased its footprint in the building since the first lease was signed in 2001. Pace currently occupies 83.5% of the building and the lease matures in October 2021.<\/p>\n

\"\"<\/a>

33 Beekman St (courtesy of New Line Structures)<\/em><\/p><\/div>\n

Two years ago, the University opened a new residence hall next to the office building, at 33 Beekman Street. According to The Real Deal<\/em><\/a>, Pace also bought a share of the 179,000-square-foot dormitory ground lease last year, from SL Green Realty and the Naftali Group.<\/p>\n

Capital One financed a San Francisco office building for Jack Resnick & Sons last year – Jonathan Smith, vice president with Capital One, stated \u201cthe property is well-located in Lower Manhattan<\/a> and has a long-term anchor tenant, Pace University. Financing 161 William Street gave us the opportunity to expand our relationship with Jack Resnick & Sons to New York City<\/a>.\u201d<\/p>\n

 <\/p>\n

Looking for the perfect space for your business? Head over to CommercialCafe<\/a> and start your search!<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Capital One announced that it has provided a $40 million refinance loan for a Lower Manhattan office building owned by Jack Resnick & Sons and the Ruben Cos. Proceeds were used to pay an existing CMBS loan and to fund capital improvements – the\u00a0flexible rate loan on the 22-story, 216,204-square-foot office building at 161 William…<\/p>\n","protected":false},"author":48,"featured_media":8472,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[37,38,39],"tags":[],"class_list":["post-8463","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-deals","category-office","wpautop"],"acf":[],"yoast_head":"\nCapital One Issues $40M Refi for Ruben Companies' Manhattan Office Building - 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