Wells Fargo Bank Provides $107.5M Loan For Condo In Hudson Yards
Fifteen Hudson Yards, 15 Hudson Yards, Residence 26A, New York, NY, USA
$107,500,000
$253/SF
Building Size
424,528 SF
Asset Type
—
Closing
Mar 17, 2021
About this deal
AI
Located in the prestigious Hudson Yards neighborhood, the property at 15 Hudson Yards has recently been involved in a significant transaction. This condominium asset, situated in the heart of the Hudson Yards market, has garnered attention for its desirable features and prime location.
Summary of transation details
- Property Type: Condo
- Transaction Amount: $107,500,000
- Lender: Wells Fargo Bank
- Landlord: Related Companies
The successful completion of this transaction was made possible through the involvement of key individuals and companies. Stephen Ross, Charlie Scharf, and Jeff Blau played instrumental roles in facilitating the deal. Wells Fargo Bank acted as the lender, providing the necessary financing for the transaction. Additionally, Related Companies, led by their representative @RelatedCos, served as the landlord in this agreement.
On the Map
$107,500,000
$253/SF
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93