Bank Of China Lends $166M For Mixed-use Property At 565 Broome Soho
565 Broome St, New York, NY 10013, USA
$166,000,000
$37,471/SF
Building Size
4,430 SF
Asset Type
Mixed-use
Closing
Nov 12, 2019
AI
A loan in the amount of $166,000,000 has been secured for the mixed-use property located at 565 Broome Street in Soho. The property is owned by Halpern Real Estate Ventures and Bizzi & Partners Development. The loan was provided by the Bank of China.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $166,000,000
- Address: 565 Broome Street, Soho
- Market: Soho
The deal was brokered by AKS Capital Partners, with Aaron Appel, Keith Kurland, and Jonathan & Adam Schwartz representing the parties involved.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93