Estreich & Company Arranges $180M Loan For Mixed-Use Property At 250 West 57th Street In Midtown
250 West 57th Street, Midtown
$180,000,000
$413/SF
Building Size
435,760 SF
Asset Type
Mixed-use
Closing
Nov 12, 2020
About this deal
AI
Anthony Malkin and Christina Chiu have secured a loan for the property located at 250 West 57th Street in Midtown. This mixed-use asset, with a total square footage of 435,760, is zoned as C5-3, MiD. The loan amount for this transaction is $180,000,000.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $180,000,000
- Address: 250 West 57th Street
- Market: Midtown
- Zoning: C5-3, MiD
Estreich & Company represented Anthony Malkin and Christina Chiu in this loan transaction. The landlord for this property is Empire State Realty Trust.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93