Updated Oct 28, 2024
Northeast Capital Group Acquires Office In Stamford, CT For $210M Loan
695 East Main Street, Stamford, Connecticut 06901, United States
$210,000,000
$376/SF
Building Size
557,581 SF
Asset Type
Office
Closing
Dec 1, 2021
About this deal
AI
The recently closed property transaction involves an office building located at 695 Main Street and 200 Elm Street in Stamford, CT. This office property spans an impressive 557,581 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $210,000,000
- Address: 695 Main Street & 200 Elm Street, Stamford, CT
- Market: Stamford, CT
- Asset Size: 557,581 square feet
The landlord for this property is Northeast Capital Group. Representing the buyer, seller, landlord, or tenant on this deal were Morris Betesh, Jack McPhail, Jacob Schmuckler, and Israel Mermelstein from the Meridian Capital Group.
This transaction involved an acquisition loan of $210,000,000 to facilitate the purchase of the property.
Players
Stamford 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
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93