Related Companies Secures $450M Refinance Loan From MetLife & Pacific Life
10 Columbus Circle & 35 Columbus Circle
$450,000,000
Building Size
—
Asset Type
Condo
Closing
Apr 29, 2024
About this deal
AI
The property involved in the transaction is a retail condominium unit and garage property located at 10 Columbus Circle in Manhattan's Lincoln Square. The loan amount for this asset is $450,000,000. The property belongs to Andrew Rosen of Related Companies. The lenders for the refinance loan are Pacific Life Insurance Company represented by John Waldeck and MetLife represented by Brett Ulrich.
Summary of transaction details:
- Property Type: Condo & Parking Lot
- Transaction Amount: $450,000,000
- Address: 10 Columbus Circle & 35 Columbus Circle
- Market: Lincoln Square, Manhattan
- Lender: Pacific Life Insurance Company - John Waldeck & MetLife - Brett Ulrich
- Landlord: Andrew Rosen - Related Companies
The deal involves Related Companies securing a $450 million refinance loan from MetLife and Pacific Life Insurance Company for the retail condominium unit and garage property at 10 Columbus Circle in Manhattan. John Waldeck represents Pacific Life Insurance Company, while Brett Ulrich represents MetLife in this transaction.
On the Map
$450,000,000
Condo
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Players
New York Condo Market Snapshot
Boundary boundary · Condo · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93