Hackman, Affinius Refinance Silvercup Studios Debt

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The owners of one of New York City’s most prominent film studios refinanced the debt on the facility.

Hackman Capital Partners and Affinius Capital reached a fresh agreement on the debt backing Silvercup Studios at 42-22 22nd Street in Long Island City, Bloomberg reported. Terms of the refinancing were not disclosed.

The $280 million debt originated by Apollo Global Management and Deutsche Bank was due to mature soon. The loan dates back to when the partners acquired the Queens film studio five years ago.

Newmark’s Jordan Roeschlaub and Jonathan Firestone arranged the financing. None of the parties involved in the transaction commented on the deal.

Hackman and Square Mile — which has since rebranded as Affinius — bought Silvercup Studios from brothers Stuart and Alan Suna in 2020; the deal was reportedly for $500 million. Their family founded the film and television studio nearly four decades prior.

Founded in 1983 on the site of the landmark Silvercup Bakery, the studio includes three campuses in Long Island City and the Bronx spanning more than ten acres. In total, Silvercup features 23 soundstages totaling more than 240,000 square feet and 265,000 square feet of office and production support space.

Silvercup is the largest film and television studio in New York City. Shows filmed at the studio include “Mad Men,” “Sex and the City” and “The Sopranos.”

Studio development and productions have been on the rise in the tri-state area in recent years, especially in New Jersey, after the state revived its tax credit for production in 2018.

At the start of the year, Hackman received approval for its $1.25 billion plan to redevelop its Television City studios in L.A.’s Fairfax Historic District. Hackman faced years of opposition to its 980,000-square-foot redevelopment plan for the 25-acre landmark production complex once known as CBS Television City, a project it aims to complete by 2028.

— Holden Walter-Warner