Extell's One Manhattan Square Secures $690M Loan From Blackstone For Two Bridges Condos
225 Cherry St, New York, NY 10002, USA
$690,000,000
$7,292/SF
Building Size
94,619 SF
Asset Type
—
Closing
Aug 28, 2019
About this deal
AI
The residential condos located at @OneManhattanSquare in the Two Bridges market have been involved in a closed property transaction. The loan for this transaction amounted to $690,000,000 and the property consists of 815 units. The pricing of these units is as follows: 1BR's at $1.2 million, 2BR's at $1.9 million, and 3BR's at $3.5 million.
Summary of transaction details
- Property Type: Residential Condos
- Transaction Amount: $690,000,000
- Address: @OneManhattanSquare
- Market: Two Bridges
Gary Barnett, the landlord from Extell, was involved in this transaction. It is important to note that 127 units have already been sold, leaving 688 units still available for purchase.
Players
New York CRE Market Snapshot
Boundary boundary · CRE · Loan transactions
Loading comparables…
Deal FAQ
Visit Gary Barnett to view all their deals.
Browse New York loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.02%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93