Arch Companies And Tahari Capital Secure $70.5M Bridge Loan For Greenwich Village Office Property
FINANCED
$70,500,000
New York
See Similar DealsCommercial70,672 SF
Financed 05/23/2022
FINANCED
Arch Companies And Tahari Capital Secure $70.5M Bridge Loan For Greenwich Village Office Property
88 University Place, New York City, New York 10003, United States
See Similar DealsCommercial70,672 SF
Financed 05/23/2022
Summary
NEW YORK
Asset Type:Commercial
Price Per Square Foot:$997
Total Square Footage:70,672 SF
Transaction Type:Loan
A bridge loan in the amount of $70,500,000 has been secured for the property located at 88 University Place in Greenwich Village, Manhattan. The asset is an office space encompassing 94,000 square feet.
Summary of transation details
- Property Type: Office
- Transaction Amount: $70,500,000
- Address: 88 University Place
- Market: Greenwich Village, Manhattan
- Landlord: Arch Companies - Jeff Simpson & Jared Chassen & Tahari Capital - Jeremey Tahari
- Lender: CIM
- Brokers: Jonathan Aghravi & Eli Terry - JBA Equities
- Date: 05/23/2022
The lenders for this transaction are CIM, while the landlord is a collaboration between Arch Companies represented by Jeff Simpson and Jared Chassen, and Tahari Capital represented by Jeremey Tahari. The brokers involved in the deal are Jonathan Aghravi and Eli Terry from JBA Equities.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$70,500,000.00
Monthly NOI$470,000.00
Monthly Debt Service$445,607.96
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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