Episode Details

Midtown South’s Textile Building just landed a $228.9M loan to refinance its $350M renovation—complete with courtyards, terraces, and a two-story penthouse—despite only 50% occupancy. Backed by PGIM, Tribeca Investment Group, and Meadow Partners, the deal signals confidence in the submarket’s resilience, especially as Bridgewater Associates and Quinn Emanuel move in. With asking rents hitting $95–$135/sq ft, this isn’t just about survival—it’s about positioning older buildings for long-term success in a shifting NYC office landscape.

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