Bijan Nassi Secures $12.8M Loan For Greenwich Village Office Properties
97 University Place, 60 East 11th Street & 58 East 11th Street
$12,850,000
$156/SF
Building Size
82,320 SF
Asset Type
Office
Closing
Mar 30, 2023
About this deal
AI
Bijan Nassi has secured a $12.8 million loan with lender Avant Capital SBL 2 LLC for three office properties in Greenwich Village. The properties include the office building located at 97 University Place as well as 60 East 11th Street and 58 East 11th Street. The total combined square footage of the properties is 82,320.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $12,850,000
- Address: 97 University Place, 60 East 11th Street & 58 East 11th Street
- Market: Greenwich Village, Manhattan
- Square Footage: 82,320 SF
- Lender: Avant Capital
- Landlord: Bijan Nassi
This loan transaction, facilitated by Avant Capital, allows Bijan Nassi to secure funding for these three office properties. The deal covers a substantial amount of square footage and represents a significant investment in the Greenwich Village real estate market.
On the Map
$12,850,000
$156/SF
Office
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.23%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93