Brause Realty Secures $20M Loan For Office Property On Vanderbilt Ave In Grand Central
52 Vanderbilt Ave, Grand Central
$20,000,000
$123/SF
Building Size
162,342 SF
Asset Type
Office
Closing
Jun 4, 2020
AI
The office property located at 52 Vanderbilt Ave in the Grand Central market has undergone a closed transaction. The property, owned by Brause Realty and represented by David Brause, has secured a loan from Minnesota Life Insurance Company. The loan amount is $20,000,000 and the property spans across 162,342 square feet.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $20,000,000
- Address: 52 Vanderbilt Ave
- Market: Grand Central
In this deal, Brause Realty, represented by David Brause, serves as the landlord. The loan has been provided by Minnesota Life Insurance Company. The successful completion of this transaction highlights the involvement of key individuals and companies in the real estate market.
Players
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93