Goldman Sachs & Wells Fargo Provide $600M Construction Loan For Office Building At 410 Tenth Ave, Far West Side
410 Tenth Ave
$600,000,000
$94/SF
Building Size
6,360,000 SF
Asset Type
Office
Closing
Sep 7, 2020
About this deal
AI
The property involved in this closed transaction is an office building located at 410 Tenth Ave in the Far West Side market. The property spans a total square footage of 636,000. The transaction was a construction loan provided by Goldman Sachs and Wells Fargo, with a loan amount of $600,000,000. The landlord of the property is @SLGreen_Realty. The office building is occupied by two major tenants, Amazon with a space of 335,000 SF and First Republic with 211,521 SF.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $600,000,000
- Address: 410 Tenth Ave
- Market: Far West Side
The key individuals and companies involved in this deal are Andrew Matthias, Jeff Bezos, and Marc Holliday. Andrew Matthias represents the lender, Goldman Sachs & Wells Fargo, in providing the construction loan. Jeff Bezos represents Amazon, the tenant occupying 335,000 SF of the office space. Marc Holliday represents the landlord, @SLGreen_Realty. These individuals played crucial roles in successfully closing this transaction.
Players
Dayton 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
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93