JLL Capital Markets arranges $50.5M sale and $27.7M financing for Manhattan office and retail building

NEW YORK, April 27, 2026 – JLL Capital Markets announced today that it has arranged the $50.5 million sale of 76 Eighth Ave., a recently constructed boutique Manhattan office and retail building. The firm also arranged $27.775 million in acquisition financing for the buyer.

JLL represented the seller, G4 Capital Partners, and represented the borrower, San Francisco-based Spear Street Capital, in arranging the loan provided by Germany’s DekaBank.

Located at the nexus of the city’s Meatpacking District, Chelsea and West Village neighbourhoods, 76 Eighth Ave. is a 35,620-square-foot, 10-story office and retail asset featuring modern design, efficient floor plates and premium amenities. Completed in 2022, it boasts 100% occupancy with a roster of leading firms across private equity, venture capital and creative industries. Banking giant, Wells Fargo, occupies the ground floor retail space.

The JLL Investment Sales team that arranged the transaction was led by Andrew Scandalios, David Giancola, Vickram Jambu, Drew Isaacson, and Jennifer Zelko. The financing was arranged by JLL’s Debt Advisory team including Aaron Niedermayer, Peter Rotchford and Christopher Pratt.

Giancola said, “With limited new supply and strong tenant preference for premium space, assets like 76 Eighth Ave. are positioned to outperform in the market. The property’s embedded rental upside and irreplaceable location drove strong investor interest throughout the marketing process.”

Added Niedermayer, “The debt markets remain highly competitive, particularly for high-quality office assets with strong sponsorship. This transaction demonstrates how capital is aligning behind high-conviction office investments in New York City.”

According to JLL, New York City remains one of the most liquid office markets globally, with a flight-to-quality dynamic that is translating directly into investor interest. Manhattan office leasing reached approximately 10.4 million square feet in the first quarter of 2026, while overall vacancy has declined to roughly 13.5%, driven by continued absorption, particularly among higher-quality assets.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

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