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97 University Place, 60 Eas...

Bijan Nassi Secures $12.8M Loan For Greenwich Village Office Properties
FINANCEDOffice

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

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.

Players

Tacoma 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

1.23%

Cash-on-Cash

-0.35%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93