Updated Jun 27, 2025
Craig L. DeSanto Of New York Life And Lincoln Property Co. Acquire Non-Performing Loan For $62M
353 Sacramento Street
$62,000,000
$217/SF
Building Size
284,751 SF
Asset Type
Note / Loan
Closing
Jun 25, 2025
About this deal
AI
The asset involved in this transaction is a non-performing loan associated with an office tower located at 353 Sacramento Street in San Francisco. The transaction occurred for a total of $62 million, with the loan amounting to $101.6 million and covering a square footage of 284,751. This deal pertains to the market value in San Francisco.
Summary of transaction details:
- Property Type: Note / Loan
- Transaction Amount: $62,000,000
- Asset Address: 353 Sacramento Street
- Market: San Francisco
- Square Footage: 284,751
- Price per Square Foot: $218
The key individuals involved in the deal include Craig L. DeSanto from New York Life and David Binswanger & Clay Duvall from Lincoln Property Company. This transaction resolves a distressed debt situation that had been under negotiation since 2024.
Players
San Francisco Note / Loan Market Snapshot
Boundary boundary · Note / Loan · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93