One Broadway, theInternational Mercantile Marine Company Building will undergorenovations and a repositioning.
NEW YORK CITY—The joint venture of Rockwood Capital and MidtownEquities obtained $161 million in financing from Square MileCapital. The loan was secured by the property at One Broadway, alsoknown as the International Mercantile Marine Company Building.
The loan will finance the acquisition, capital improvements andleasing plan to reposition One Broadway as office headquartersmarketed to creative industries. Rockwood and Midtown purchased the12-story office building that was originally constructed in 1884 inMay 2018 for approximately $140 million from Stoffel &Partners, according to Real Capital Analytics.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
