Davidson Kempner Capital Group Acquires Mixed-Use Property In Long Island City For $100M
1 Court Square
$100,000,000
$1,217/SF
Building Size
82,161 SF
Asset Type
Mixed-use
Closing
Oct 20, 2020
AI
One Court Square, a mixed-use property located in Long Island City, Queens, was recently involved in a loan and sale transaction. The deal, which took place on October 21, 2020, had a transaction amount of $100,000,000. The seller of the property was SL Green Realty, while the buyer was Davidson Kempner Capital Group. The property's landlord is Savanna, represented by Christopher Schlank and Nicholas Bienstock. The transaction was facilitated by capital markets brokers, Adam Spies, Doug Harmon, and others.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $100,000,000
- Address: One Court Square, Long Island City, Queens
- Seller: SL Green Realty
- Buyer: Davidson Kempner Capital Group
- Landlord: Savanna, represented by Christopher Schlank & Nicholas Bienstock
- Capital Markets Brokers: Adam Spies, Doug Harmon, and others
The loan and sale transaction at One Court Square involved key individuals and companies such as Andrew Mathias, Marc Holliday, Steven Kohn, and Christopher Schlank. These individuals played crucial roles in the deal, representing their respective parties and ensuring the successful completion of the transaction.
Players
Long Island City Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93