William Macklowe Secures $124M Loan From M&T Bank For 114 University Pl Condo
114 University Pl, New York, NY, 10003
$124,000,000
Building Size
—
Asset Type
Condo
Closing
Nov 5, 2015
AI
The property involved in the transaction is a condo located at 114 University Pl, New York, NY, 10003. The loan amount for this transaction is $124,000,000.00, and it is situated within the New York market.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $124,000,000.00
- Lender: M&T Bank
- Lender's Representative: Senior Group Manager, M&T Bank-M&T Bank
- Borrower's Representative: William Macklowe-William Macklowe Company
This deal features key representatives in the transaction. The lender, M&T Bank, is represented by a Senior Group Manager, while the borrower is represented by William Macklowe from William Macklowe Company.
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
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93