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BridgeInvest Provides $35M Acquisition Loan For Mixed-Use Property At 580 Broadway In Manhattan

Property Image
FINANCED
$35,000,000
Steven Buchwald
Matthew Polci
Justin Michael Natalizio

New York

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Mixed-use141,645 SF
Financed 03/18/2022
the dealplayerscompscontact
Property Image
FINANCED

BridgeInvest Provides $35M Acquisition Loan For Mixed-Use Property At 580 Broadway In Manhattan

580 Broadway, New York City, New York 10012, United States

See Similar Deals
Mixed-use141,645 SF
Financed 03/18/2022
Steven Buchwald
Matthew Polci
Justin Michael Natalizio
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$247
Total Square Footage:141,645 SF
Transaction Type:Loan

The mixed-use property located at 580 Broadway in Manhattan has undergone a recent transaction on March 18, 2022. This property spans a total area of 141,645 square feet, making it an attractive asset for potential buyers.

Summary of transaction details

In this acquisition deal, BridgeInvest provided a loan amounting to $35,000,000. The loan enabled the buyer to secure the mixed-use property and proceed with the transaction. Justin Natalizio, Eric Michael Anton, Matthew Polci, and Steven Buchwald, all representing Marcus & Millichap, played crucial roles as brokers in facilitating this deal.

Players

Justin Michael Natalizio
Compass
Justin Michael Natalizio
16 deals$608.9M volume(917) 685-6988
BROKER
Matthew Polci
Marcus & Millichap
Matthew Polci
5 deals$216M volume
BROKER
Steven Buchwald
Institutional Property Advisors
Steven Buchwald
23 deals$1.1B volume
BROKER
BridgeInvest
BridgeInvest
LENDER
BridgeInves & An Overseas Lender
BridgeInves & An Overseas Lender
LENDER

Details

FINANCED
IMAGE: Matthew Polci, Steven Buchwald, Eric Michael Anton & Justin Natalizio DATE: 03/18/2022 ADDRESS: 580 Broadway MARKET: Manhattan ASSET TYPE: Mixed-use ~ SF: 141,645 LENDER: BridgeInvest BROKERS: Justin Natalizio (@Sir_Natalizio), Eric Michael Anton (@EricMichaelAnton), Matthew Polci (@IdolciPolci) & Steven Buchwald (@AgentBuch6) - Marcus & Millichap (@MMCapCorp) LOAN AMOUNT: $35,000,000 LOAN TYPE: Acquisition

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$35,000,000.00

Monthly NOI$233,333.33
Monthly Debt Service$221,223.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00