Cannon Hill Capital Partners has completed a $200-million recapitalization of 888 Broadway, with the addition of Global Holdings and Williams Equities as equity partners, according to published reports. The recapitalization reportedly was arranged by a Newmark team including Adam Spies and Adam Doneger.

Located in Manhattan’s Flatiron District, the 220,000-square-foot office building is anchored by Netflix, which houses its corporate offices there. The property recently underwent a significant capital improvement program, including a new lobby entrance and a rooftop terrace designed by Fogarty Finger. 

Fried Frank represented the partners in the structuring and negotiation of the $200-million recapitalization of 888 Broadway by Cannon Hill, Global Holdings and Williams Equities. The Fried Frank team was led by partners Michael Werner and Matthew Aldana and included partners Jonathan Mechanic, Janice Mac Avoy, Julianne Befeler and Richard Wolfe.    

Koeppel Rosen LLC, leasing and management agent for the Rosen family portfolio, said that global family-owned distiller William Grant & Sons, whose brands include Glenfiddich and The Balvenie Single Malt Scotch Whisky, leased 27,160 square feet at 902 Broadway. The office will serve as the company’s U.S. headquarters beginning in summer 2025.

William Grant & Sons will join an impressive roster of tenants including SeatGeek, IMAX, MKDA and Fenwick. “We’re thrilled to welcome William Grant & Sons to 902 Broadway and have them join other high-profile companies who are finding great success in this historic Flatiron icon,” said Max Koeppel, director of leasing, Koeppel Rosen LLC.  “We’ve got a fantastic location, a meticulously maintained loft-era gem, and efficient, light-filled space. It’s become a beacon for brand-conscious companies that want access to the great restaurants and shops of the Flatiron neighborhood.”

The tenant was represented by Joseph Messina and Charles Gerace of JLL. Ownership was represented in-house by Koeppel.

GlossGenius, a financial technology company that powers the self-care industry through its spa and salon software, has leased 13,619 square feet of office space at 838 Broadway, a landmarked property owned by ZG Capital Partners. The company’s relocation from SoHo represents the first transaction in the building following ZG Capital’s recently completed full-building renovation.

Originally designed by Stephen Decatur Hatch in 1876, 838 Broadway was built on the site of President
Theodore Roosevelt’s great-great uncle James T. Roosevelt’s home. Ownership engaged architecture firm Spectorgroup to execute a gut renovation of the 80,000-square-foot boutique asset.

A JLL agency team led by Vice Chairman Mitchell Konsker, Executive Managing Directors Benjamin Bass
and Greg Wang and Associate Vice President Thomas Swartz represented ZG Capital Partners in the
transaction. Senior Vice President Joseph Sipala, Associate Vice President Hannah Bernstein and Associate
Stefanie Rock represented GlossGenius.

“ZG Capital’s vision to revitalize this historic property with a hospitality-infused design has combined the
building’s timeless elegance with design elements and modern finishes that create a superior office
environment for contemporary space users,” said Konsker