NEW YORK CITY-Manhattan-based Hidrock Realty Inc. has refinanced the $16.1-million loan for the 79,200-square-foot office building at 35 W. 36th St. in the garment district. The company secured the loan for the 12-story building from Assurant, the original mortgage lender.
The new loan has an interest rate of 3.89%. The original loan, which was scheduled to mature in 2013, had an interest rate of about 6%. Hidrock purchased Manhattan office building in 2007 for $28 million. For the full story, go to Crain's New York Business .
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