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114 University Pl, New York...

William Macklowe Secures $124M Loan From M&T Bank For 114 University Pl Condo
FINANCEDCondo

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:

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

Matthew Petrula

M&T Bank

Broker

$124M

vol

1 deal

Broker
M&T Bank
M&T BankLender

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