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1700 East Putnam Avenue, Gr...

Granite Point Mortgage Trust Provides $46.4M Loan For Office Property In Greenwich, CT
FINANCEDOffice

Granite Point Mortgage Trust Provides $46.4M Loan For Office Property In Greenwich, CT

1700 East Putnam Avenue, Greenwich, Old Greenwich, CT, USA

$46,400,000

$248/SF

Building Size

186,725 SF

Asset Type

Office

Closing

Jul 20, 2021

AI

The property involved in this closed transaction is an office located at 1700 East Putnam in Greenwich, CT. The loan amount for this transaction was $46,400,000.

Summary of transaction details

The loan for this transaction was provided by Granite Point Mortgage Trust, represented by Peter Moral and Peter Jolicoeur. The landlord for the property is Crown Acquisitions, represented by Toby Yedid. The brokers involved in the deal are Eliott Zeitoune, Kelly Gaines, and Madison Warwick from JLL.

Players

Eliott Zeitoune

Arrow Real Estate Advisors

Broker

$853.9M

vol

9 deals

Broker
Crown Acquisitions
Crown AcquisitionsBrokerage
Granite Point Mortgage Trust
Granite Point Mortgage TrustLender
Crown Acquisitions
Crown AcquisitionsLandlord

Old Greenwich Office Market Snapshot

Boundary boundary · Office · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.34%

Cash-on-Cash

-0.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93