Mack Real Estate Credit Strategies Provides $450M Loan For Condo At 108 Leonard In Tribeca
108 Leonard St, New Yo
$450,000,000
$1,125/SF
Building Size
400,000 SF
Asset Type
Condo
Closing
Nov 9, 2019
About this deal
AI
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.
On the Map
$450,000,000
$1,125/SF
Condo
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Players
New York Condo Market Snapshot
Boundary boundary · Condo · Loan transactions
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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