Newmark Arranges $230 Million Refinancing for Historic Mixed-Use Asset 520-524 Broadway in SoHo, Manhattan

September 9, 2025 9:00 AM

Newmark announces that the Company has arranged a $230 million refinancing on behalf of Northwood Investors for 520-524 Broadway, a collection of two historic mixed-use properties located in SoHo, Manhattan. Newmark Co-President, Global Debt and Structured Finance Jordan Roeschlaub and Vice Chairman Nick Scribani secured the financing from Barings, which was led by Jonathan Neff.

Originally constructed in 1901 and 1903, the beaux-arts limestone buildings spanning 235,000 square feet feature a newly renovated attended lobby and blend seamlessly with SoHo’s storied, backdrop. The properties occupy the prominent southeast corner of Broadway and Spring Street, one of New York City’s most desirable retail intersections, and are home to Balthazar and Lululemon, with Abercrombie & Fitch soon to join the roster.

The financing will provide future funding to support leasing across both the retail and office components. The property includes 55,000 square feet of ground-floor retail and 180,000 square feet of office space, leased to a diverse mix of tenants.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended June 30, 2025, Newmark generated revenues of over $2.9 billion. As of June 30, 2025, Newmark and its business partners together operated from 165 offices with over 8,400 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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