80 Broad Street Recap Financed with $175M Loan

Broad Street Development, together with PCCP and One Investment Management, has completed the recapitalization of 80 Broad Street, also known as the Maritime Building. The recap included securing a $175 million construction loan for the adaptive conversion of the Lower Manhattan property.

The financing was arranged by Derby Lane Partners, with Newmark’s team credited with securing the loan. The broader recap totaled approximately $300 million, sources said, with Newmark also involved in bringing in One IM and PCCP.