Blue Owl Lender Records $111.1M Loan on 480 Broadway, 153 Spring
A Blue Owl real estate lender entity recorded a $111.1M mortgage and rents assignment on SoHo properties at 153 Spring St and 478 Broadway.
A Blue Owl real estate lending entity now holds a $111.1 million mortgage on a two-address SoHo package, according to ACRIS records recorded September 30. The borrowers are KPG 480 Broadway Owner LLC and KPG 155 Spring Owner LLC, and the lender of record is BO OREC REIT Lender LLC, care of Blue Owl Real Estate Capital LLC.
Why it matters
Blue Owl is better known in our coverage for data centers and its public REIT spinoff. This filing shows the same firm lending against Manhattan retail-and-office property, at a size that puts it in the top tier of SoHo debt.
The loan was written on September 9 and covers 153 Spring Street (units listed as upper and lower, block 501, lots 1101 and 1102) and 478 Broadway (block 473, lot 10). Both borrowers list the same Westport, Connecticut address.
An assignment of leases and rents recorded alongside the mortgage, for the same $111,100,000, gives the lender a claim on tenant rent if the loan goes bad. That is standard for a loan of this kind.
The numbers
Seven documents were recorded in one batch: the $111.1 million mortgage (doc 2026092200033006), the matching rents assignment (2026092200033007), a $16,760,923.75 mortgage (2026092200033005), and four assignments with a stated amount of $0.
We read the $16.8 million mortgage and the zero-dollar assignments as the usual paper trail of replacing older debt, but that is our inference. The record lists no payoff amount or prior lender.
For context, the earlier large instruments we found on the 478 Broadway lot were a $15.7 million mortgage with a $17.1 million deed in January 2022, then $11.9 million and $22.0 million mortgages combined in a $37.7 million agreement in June 2023. The new loan is roughly three times the 2023 combined figure.
What’s next
ACRIS does not state the loan’s rate, term or purpose, and the records do not name the sponsor behind the KPG entities. We have not confirmed who controls them or what the proceeds fund. A payoff of the 2023 debt would show up as satisfactions recorded in the coming weeks, which would confirm this was a refinancing.
More on this market is on the New York hub.
What we verified
What we checked ourselves, and where you can check it too.
- Public recordA $111,100,000 mortgage and a matching assignment of leases and rents were recorded 2026-09-30 in favor of BO OREC REIT Lender LLC, care of Blue Owl Real Estate Capital LLC.View the record on a836-acris.nyc.gov
- Our dataThe same batch also carries a $16,760,923.75 mortgage and four zero-dollar assignments; the prior largest recorded 478 Broadway instrument we found was a $37,722,521.87 agreement in 2023.View the record on a836-acris.nyc.gov
On the record
- Primary recordNYC ACRISMortgage, $111,100,000, recorded 2026-09-30
- Primary recordNYC ACRISAssignment of leases and rents, $111,100,000, recorded 2026-09-30
- Primary recordNYC ACRISCompanion mortgage, $16,760,923.75, recorded 2026-09-30