Josh Baumgarten & Adam Schwartz Of TPG Angelo Gordon Secure $34.5M Refinance Loan For 2875 Broadway
2875 Broadway
$34,500,000
$1,480/SF
Building Size
23,300 SF
Asset Type
Mixed-use
Closing
Sep 9, 2025
About this deal
AI
2875 Broadway is a fully leased mixed-use property located in Manhattan’s Upper West Side, encompassing a total square footage of 23,300. The property is currently involved in a refinancing transaction with a loan amount of $34,500,000.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $34,500,000
- Address: 2875 Broadway
- Market: Upper West Side
- Lender: Thomas Lorenzini - Seven Hills Realty Trust
- Landlord: Josh Baumgarten & Adam Schwartz - TPG Angelo Gordon; Premier Equities
- Loan Type: Refinance
Thomas Lorenzini, representing Seven Hills Realty Trust, facilitated the $34.5 million floating-rate first mortgage loan for the refinancing of the property. The landlords for the transaction are Josh Baumgarten and Adam Schwartz, who are associated with TPG Angelo Gordon and Premier Equities.
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
0.46%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93