Bank Of America Refinances Special Purpose Property In Hastings-on-Hudson For $170M
1337 Saw Mill River Road, Hastings-on-Hudson, New York 10706, United States
$170,000,000
$94/SF
Building Size
1,800,000 SF
Asset Type
—
Closing
Sep 19, 2022
AI
A special purpose property located at 1337 Saw Mill River Rd. in Hastings-on-Hudson has recently undergone a loan refinancing transaction. The property consists of approximately 1,800,000 square feet and is owned by Merit Hill Capital and Centerbridge Partners. The loan was provided by Bank of America, with Brian Moynihan representing the lender's side.
Summary of transaction details
- Property Type: Special Purpose
- Transaction Amount: $170,000,000
- Address: 1337 Saw Mill River Rd.
- Market: Hastings-on-Hudson
Assisting in this deal were brokers Jordan Roeschlaub, Dustin Stolly, Nick Scribani, and Aaron Swerdlin from Newmark. They played a crucial role in facilitating the loan refinancing process, ensuring a successful transaction for all parties involved.
Players
Hastings On Hudson CRE Market Snapshot
Boundary boundary · CRE · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93