InterVest Capital Partners has closed an $85 million loan to refinance a mixed-use office and retail property at 300 Lafayette Street in Manhattan's SoHo neighborhood, with Hudson Bay Capital providing the debt. The transaction matters because it shows lender appetite for boutique, credit-anchored office assets in a market where office financing has faced scrutiny. The seven-story, COOKFOX-designed building was completed in 2019 and is anchored by Microsoft, which occupies the entire 63,000-square-foot office component on floors two through seven. That tenancy gives the refinancing a stability signal that is not universal across New York office properties.
The property also includes 19,028 square feet of retail space on the ground floor and lower level, leased to Neko Health, New Era and Goldwin. Newmark negotiated the debt with a team consisting of Jordan Roeschlaub, Nick Scribani, John Caraviello and Ryan Bub. In a statement, Scribani said, "300 Lafayette Street is as good as boutique product gets in Lower Manhattan," adding that "lender interest was deep and competitive." The loan amount is reported as $85 million, but the dossier does not disclose the loan-to-value ratio, interest rate, term, or whether the prior debt was maturing or being replaced for other reasons.
The evidence comes from a single Commercial Observer report published on September 23, 2026, by Andrew Coen. The report states that Microsoft signed a long-term lease for the office portion in March 2019, just before construction was completed, and that Commercial Observer first reported that lease at the time. Rob Rothschild, managing director and head of real estate at InterVest Capital Partners, said in a statement, "Buildings like this are nearly impossible to replicate at today's replacement costs. This financing reflects the strength of the property and its tenancy." Hudson Bay Capital declined to comment. Because the dossier contains one full-text source, the analysis must stay close to that reporting and cannot independently verify the loan terms or tenancy details.
The transaction has implications for the broader commercial real estate market. It suggests that lenders remain willing to finance well-leased, recently built boutique assets in prime Manhattan submarkets, even as office fundamentals vary widely by location and tenant quality. The presence of a major technology tenant such as Microsoft, occupying the full office portion, appears to be a key underwriting factor. The retail component adds income diversity, but the dossier does not provide lease expirations, rent levels, or occupancy history for those retail tenants. The refinancing may also reflect a view that replacement costs support the property's value, as Rothschild's statement indicates.
Several limitations apply. The dossier does not include the prior loan amount, the property's appraised value, debt service coverage, or the use of proceeds. It also does not state whether the refinancing reduces or increases leverage, or whether any cash-out was involved. The reported date of September 23, 2026, appears in the source metadata, but the article text itself does not independently confirm that date. What to watch next is whether other boutique office properties with single-anchor tenants secure similar financing, and whether Hudson Bay Capital or InterVest disclose additional terms that clarify the deal's structure and risk profile.