InterVest Lands $85M Hudson Bay Loan for 300 Lafayette Street in Soho

What happened

InterVest Capital Partners refinanced the debt on 300 Lafayette Street, a 60,000-square-foot office building in Soho. Hudson Bay Capital Management provided an $85 million loan. The Real Deal reported this on October 19, 2026, citing PincusCo. The deal closed roughly one month before that report.

The new loan replaces a previous $85 million loan. InterVest itself had provided that earlier loan before it took over ownership. A Newmark team of Jordan Roeschlaub, Nick Scribani and John Caraviello represented InterVest as borrower.

The building was once owned by Elie Schwartz's Nightingale Properties. In 2019, InterVest, then called Wafra Capital Partners, partnered with Nightingale to buy the leasehold that controls the property. The owner offered the property for sale in 2022, seeking bids of about $200 million. In 2023, lender TPG Real Estate Finance said in filings that it was owed about $129 million, which put Nightingale at risk of losing the building. An InterVest affiliate halted a foreclosure by buying a $143 million note. InterVest then acquired the property in May 2025 for $132.5 million. Related Companies and LargaVista developed the site, once a BP gas station, and sold the finished project for about $125 million.

The same report noted trouble at another Soho office property. Stellar Management's $800 million mortgage on One Soho Square was sent to special servicing, which lets the landlord explore an extension or modification. The Real Deal said vacancy there has doubled over four years to 14 percent, cash flow is below projections, and major tenant Flatiron Health shows signs of a possible exit. That mortgage matures in about two years, and the property also carries $120 million in mezzanine debt.