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Mack Real Estate Credit Strategies Provides $450M Loan For Condo At 108 Leonard In Tribeca

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FINANCED
$450,000,000
Adam Schwartz
Aaron Appel
+ 1

New York

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Condo400,000 SF
Financed 11/09/2019
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Property Image
FINANCED

Mack Real Estate Credit Strategies Provides $450M Loan For Condo At 108 Leonard In Tribeca

108 Leonard St, New Yo

See Similar Deals
Condo400,000 SF
Financed 11/09/2019
Adam Schwartz
Aaron Appel
+ 1
Contact now

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

Aaron Appel
190 deals$31.9B volume
BROKER

Jonathan Schwartz
Walker & Dunlop
165 deals$26.9B volume
BROKER

Keith Kurland
Walker & Dunlop
170 deals$29.1B volume
BROKER

Adam Schwartz
Walker & Dunlop
160 deals$25.4B volume(646) 491-8869
BROKER

Mack Real Estate Group
LENDER

Elad Group
LANDLORD

Details

FINANCED
IMAGE: Jonathan Schwartz, Aaron Appel, Keith Kurland, Adam Schwartz, Don Peebles, Isaac Tshuva, Richard Mack DATE: 09/11/2019 ADDRESS: @108_Leonard MARKET: Tribeca ASSET TYPE: Condo 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 LOAN AMOUNT: $450,000,000 SF: 400,000

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Deal Type
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