Wells Fargo Provides $106.5M Loan For Mixed-Use Property In SoHo
FINANCED
$106,500,000
New York
See Similar DealsMixed-use96,000 SF
Financed 03/20/2021
FINANCED
Wells Fargo Provides $106.5M Loan For Mixed-Use Property In SoHo
546 Broadway, Manhattan, New York, NY, USA
See Similar DealsMixed-use96,000 SF
Financed 03/20/2021
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,109
Total Square Footage:96,000 SF
Transaction Type:Loan
Located at 546 Broadway in SoHo, this mixed-use property spans approximately 96,000 square feet. The transaction took place on March 20, 2021, and involved Charles W. Scharf, Isaac Chetrit, AB & Sons Group, and Uniqlo. The property was financed by Wells Fargo, which provided a loan amount of $106,500,000.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $106,500,000
- Address: 546 Broadway
- Market: SoHo
- Landlord: AB & Sons Group
- Tenant: Uniqlo
Charles W. Scharf, along with Isaac Chetrit, facilitated this transaction as the property's representatives. AB & Sons Group acted as the landlord, while Uniqlo occupied the space as the tenant. Wells Fargo served as the lender, providing the loan for this deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$106,500,000.00
Monthly NOI$710,000.00
Monthly Debt Service$673,152.45
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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