Mack Real Estate Credit Strategies Provides $450M Loan For Condo At 108 Leonard In Tribeca
FINANCED
New York
See Similar DealsCondo400,000 SF
Financed 11/09/2019
FINANCED
Mack Real Estate Credit Strategies Provides $450M Loan For Condo At 108 Leonard In Tribeca
108 Leonard St, New Yo
See Similar DealsCondo400,000 SF
Financed 11/09/2019
Summary
NEW YORK
Asset Type:Condo
Price Per Square Foot:$1,125
Total Square Footage:400,000 SF
Transaction Type:Loan
The asset involved in this transaction is a condominium located at 108 Leonard in the Tribeca market. The condo spans a total of 400,000 square feet and has secured a loan amount of $450,000,000.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $450,000,000
- Address: 108 Leonard
- Market: Tribeca
- Lender: Mack Real Estate Credit Strategies
- Landlord: El Ad Group and the Peebles Organization
- Brokers: AKS Capital Partners - Aaron Appel, Keith Kurland, Jonathan Schwartz and Adam Schwartz
- Square Footage: 400,000
The deal includes notable individuals such as Jonathan Schwartz, Aaron Appel, Keith Kurland, Adam Schwartz, Don Peebles, Isaac Tshuva, and Richard Mack, who played significant roles in facilitating the transaction and representing their respective organizations.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$450,000,000.00
Monthly NOI$3,000,000.00
Monthly Debt Service$2,844,306.11
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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