Deutsche Bank Provides $300M Inventory Loan For Multifamily Property In Financial District
FINANCED
$300,000,000
New York
See Similar DealsMultiFamily1,165,000 SF
Financed 10/04/2023
FINANCED
Deutsche Bank Provides $300M Inventory Loan For Multifamily Property In Financial District
1 Wall Street
See Similar DealsMultiFamily1,165,000 SF
Financed 10/04/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$257
Total Square Footage:1,165,000 SF
Transaction Type:Loan
The multifamily property located at 1 Wall Street in the Financial District, Manhattan has been involved in a closed transaction. The property spans an impressive 1,165,000 square feet and consists of 566 units, making it a significant asset in the area.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $300,000,000
- Lender: Deutsche Bank - Christian Sewing
- Landlord: Harry Macklowe - Macklowe Properties
- Brokers: Jordan Roeschlaub & Dustin Stolly - Newmark
- Loan Type: Inventory
In this transaction, Deutsche Bank provided a loan of $300,000,000. Christian Sewing, the CEO of Deutsche Bank, was involved in the deal as the lender's representative. Harry Macklowe, the landlord and owner of Macklowe Properties, played a key role in the transaction as well.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$300,000,000.00
Monthly NOI$2,000,000.00
Monthly Debt Service$1,896,204.07
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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