A large loan for a prominent SoHo property
A joint venture that owns 568 Broadway in SoHo has secured $216 million in bridge financing to refinance the mixed-use property, according to Walker & Dunlop, which arranged the transaction. ACORE Capital provided the loan to the ownership group of Aurora Capital, Allied Partners and A&H Acquisitions.
The transaction is a refinancing, not a sale. It replaces or restructures property-level debt while the existing owners retain the building. The companies did not disclose the new loan’s interest rate, maturity, leverage ratio or other terms, so the announcement does not reveal the owners’ full cost of capital or the lender’s underwriting assumptions.
Office space above a fully leased retail base
The 12-story building sits at Broadway and Prince Street and contains about 390,745 square feet of office and retail space. Walker & Dunlop said the approximately 70,870-square-foot retail component is fully leased. Listed retail tenants include Hugo Boss, Athletic Propulsion Labs, GU and Equinox.
Office tenants include Zocdoc, The Farmer’s Dog and Milk Makeup. The mix matters because retail frontage on a heavily traveled SoHo corner and office floors above it produce different revenue streams and face different leasing risks. Full retail occupancy does not necessarily indicate the same occupancy level or lease duration across the office portion.
Why bridge financing is used
A bridge loan is generally a shorter-term financing tool that gives an owner time to execute a leasing, renovation, repositioning or longer-term refinancing strategy. It can be useful when a property has durable strengths but its owners do not want to lock in permanent financing under current market conditions.
Bridge debt can also carry higher costs or more execution risk than long-term fixed-rate financing. Without the disclosed loan documents, it is not possible to judge the transaction’s pricing, covenants or repayment structure. The headline amount alone should not be read as a new valuation of the building.
A selective market signal
The deal shows that substantial financing remains available for certain New York mixed-use assets. The property combines prominent retail frontage, a recognizable historic building and a roster of consumer, technology and wellness tenants. Those attributes can help a lender distinguish it from offices facing high vacancy, obsolete space or weak neighborhood demand.
At the same time, one loan is not proof of a broad commercial-real-estate recovery. Manhattan properties differ widely by location, tenant credit, lease expirations, renovation needs and existing debt. Lenders may compete for a strong, well-leased asset while remaining cautious elsewhere.
What to watch next
The practical questions are whether the owners use the bridge period to extend leases, upgrade the property or move toward permanent financing, and how office demand evolves in SoHo. Future public records may also clarify the loan’s term and security.
For now, the verified takeaway is narrower: ACORE Capital financed a $216 million refinancing arranged by Walker & Dunlop for 568 Broadway, whose retail space was reported fully leased. The transaction adds a notable data point to a Manhattan lending market that remains active but highly selective.
The property is also known as the Prince Building and dates to the late nineteenth century. Its scale and corner position make it a visible part of the Broadway retail corridor, but historical character can bring continuing maintenance and modernization costs. A lender assessing the asset would typically consider those obligations alongside tenant income, lease rollover and the value of the site.
Sources: Walker & Dunlop transaction announcement · Commercial Property Executive report. Reporting reviewed October 18, 2026.