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AURORA Refinances 40 Tenth Ave. Mixed-Use Property In Meatpacking District With $300M Loan

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FINANCED
$300,000,000
Simon Ziff
Jason Deck
+ 5

New York

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Mixed-use139,000 SF
Financed
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FINANCED

AURORA Refinances 40 Tenth Ave. Mixed-Use Property In Meatpacking District With $300M Loan

Solar Carve Tower, 10th Avenue, Manhattan, New York, NY, USA

See Similar Deals
Mixed-use139,000 SF
Financed
Simon Ziff
Jason Deck
+ 5
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$2158
Total Square Footage:139000 SF
Transaction Type:Loan

The Solar Carve Tower, also known as 40 Tenth Ave., located in the Meatpacking District, was the subject of a recent closed property transaction. The mixed-use asset was involved in a refinancing loan deal.

Summary of transaction details

  • Property Type: Mixed-use
  • Loan Amount: Approximately $300,000,000
  • Address: 40 Tenth Ave., Meatpacking District
  • Lender: pbb Deutsche Pfandbriefbank
  • Landlord: AURORA - Bobby Cayre & Jared Epstein & William Gottlieb Real Estate
  • Brokers: Simon Ziff, Jason Krane, David McNeill, Andrew Fleming & Jason Deck
  • Architect: Studio Gang

Simon Ziff, Jason Krane, David McNeill, Andrew Fleming, and Jason Deck from Ackman Ziff were involved as brokers in the transaction. This deal brings together various key individuals and companies, such as Jason Krane, Bobby Cayre, Jared Epstein, and Simon Ziff, showcasing their roles in the loan refinance transaction for 40 Tenth Ave.

Players

Simon Ziff
11 deals$2B volume
BROKER

Jason Deck
2 deals$378M volume
BROKER

Jason Krane
Ackman-Ziff
9 deals$893.5M volume
BROKER


1 deal$300M volume
BROKER

Bobby Cayre
Aurora Capital Associates
11 deals$820.4M volume
BROKER

Deutsche Bank
LENDER

Bobby Cayre
Aurora Capital Associates
11 deals$820.4M volume
LANDLORD

Bobby Cayre
11 deals$820.4M volume
LANDLORD

5 deals$366M volume
LANDLORD

5 deals$366M volume
LANDLORD

5 deals$366M volume
LANDLORD

5 deals$366M volume
LANDLORD

Jared Epstein
Aurora Capital Associates
6 deals$345M volume
LANDLORD

Jared Epstein
6 deals$345M volume
LANDLORD

Details

FINANCED
IMAGE: Jason Krane, Bobby Cayre, Jared Epstein & Simon Ziff DATE: 10/2021 ADDRESS: 40 Tenth Ave. AKA The Solar Carve Tower MARKET: Meatpacking District ASSET TYPE: Mixed-use LENDER: pbb Deutsche Pfandbriefbank LANDLORD: AURORA - Bobby Cayre & Jared Epstein & William Gottlieb Real Estate BROKERS: Simon Ziff (@SimonZiff_AckmanZiff), Jason Krane (@Jason_Krane), David McNeill, Andrew Fleming & Jason Deck (@JasonDeck) @AckmanZiff ARCHITECT: @StudioGang LOAN AMOUNT: $300,000,000 (approx.) LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$300,000,000.00

Monthly NOI$2,000,000.00
Monthly Debt Service$1,896,204.07
Change in Cash Flow$0.00
Refinance Proceeds$0.00