facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

New York

/

Mixed Use

/

Sale

/

1 Court Square

Davidson Kempner Capital Group Acquires Mixed-Use Property In Long Island City For $100M
SOLDMixed-use

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

Adam Doneger

Newmark

Broker

$50.5B

vol

192 deals

Broker
Adam Spies
Verified Badge

Adam Spies

Newmark

Broker

$72.1B

vol

265 deals

Broker
S
SavannaBrokerage

Davidson Kempner

Buyer

$230M

vol

2 deals

Buyer
BC
B Group CapitalBuyer
Christopher Schlank

Christopher Schlank

Landlord

$375.8M

vol

8 deals

Landlord

Long Island City Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

Loading comparables…

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