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Wells Fargo Funds $250M Loan Assumption For 101 Hudson St Office In Jersey City

Property Image
FINANCED
$250,000,000

New Jersey

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Office1,347,000 SF
Financed 10/07/2022
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Property Image
FINANCED

Wells Fargo Funds $250M Loan Assumption For 101 Hudson St Office In Jersey City

101 Hudson St

See Similar Deals
Office1,347,000 SF
Financed 10/07/2022
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Summary

NEW JERSEY
Asset Type:Office
Price Per Square Foot:$185
Total Square Footage:1,347,000 SF
Transaction Type:Loan

The property involved in the transaction is an office building located at 101 Hudson St in Jersey City. The building spans a total area of 1,347,000 square feet.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $250,000,000
  • Lender: Wells Fargo (Loan Assumption)
  • Landlord: Mark Meisner - Birch Group; Abe Greenhut - 2020 Vision
  • Brokers: Shawn Rosenthal & Jason Gaccione - CBRE
  • Note from Landlord: Preferred equity provided by SKW Funding (Ayush Kapahi, Daniel Wrublin, and Matt Contreras)

The loan for this transaction was provided by Wells Fargo through a loan assumption. The landlord of the property is Mark Meisner from the Birch Group, along with Abe Greenhut from 2020 Vision. The brokers involved in the deal were Shawn Rosenthal and Jason Gaccione from CBRE. Additionally, the landlord provided preferred equity through SKW Funding, which is represented by Ayush Kapahi, Daniel Wrublin, and Matt Contreras.

Players

Shawn Rosenthal
16 deals$2B volume
BROKER

Jason Gaccione
CBRE
16 deals$1.9B volume
BROKER

Details

FINANCED
IMAGE: Shawn Rosenthal, Jason Gaccione & Mark Meisner DATE: 10/07/2022 ADDRESS: 101 Hudson St MARKET: Jersey City ASSET TYPE: Office ~ SF: 1,347,000 LENDER: Wells Fargo (Loan Assumption) LANDLORD: Mark Meisner (@Mark.Meisner) - Birch Group (@TheBirchGroupNY); Abe Greenhut - 2020 Vision BROKERS: Shawn Rosenthal & Jason Gaccione - CBRE LOAN AMOUNT: $250,000,000 LOAN TYPE: Acquisition NOTE FROM LANDLORD: Preferred equity provided by SKW Funding (Ayush Kapahi, Daniel Wrublin and Matt Contreras)

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$250,000,000.00

Monthly NOI$1,666,666.67
Monthly Debt Service$1,580,170.06
Change in Cash Flow$0.00
Refinance Proceeds$0.00