Newmark Arranges $180 Million Refinancing of 80 Lafayette Street in Lower Manhattan

March 3, 2025 9:00 AM

Newmark announces that the firm has arranged a $180 million loan to refinance 80 Lafayette Street, a highly sought-after, dedicated student housing property located in the heart of Lower Manhattan. Newmark Co-Head of Global Debt & Structured Finance Jordan Roeschlaub and Vice Chairman Nick Scribani arranged the financing on behalf of owner Corigin Real Estate Group (“the Sponsor”). Apollo Global Management provided the funding.

The Sponsor has operated the property as a 100% master-leased New York University (NYU) dorm for more than two decades and recently executed a 10-year lease extension. 80 Lafayette, known as Lafayette Hall by NYU students, is one of the largest student housing facilities in the city, accommodating approximately 1,100 students across 262 units. Originally built in 1915, the property was purchased and converted into a student residence by the Sponsor in 1999. The property is coveted by upperclassmen due to its generous amenity spaces, expansive common areas, spacious units with vaulted ceilings and panoramic city views.

Ideally located at the convergence of Tribeca, SoHo and Chinatown, 80 Lafayette offers residents seamless connectivity to the greater Manhattan area, with numerous subway lines just steps away. The property also features two fully occupied retail spaces, further enhancing its dynamic, urban setting.

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 December 31, 2024, Newmark generated revenues of over $2.7 billion. As of December 31, 2024, Newmark and our business partners together operated from approximately 170 offices with more than 8,000 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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