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Grubb Properties Secures $129.4 Million Loan For 462-Unit Multifamily At 111 Washington Street
FINANCED
$129,400,000
New York
See Similar DealsMultiFamily395,717 SF
Financed 06/27/2025
FINANCED
Grubb Properties Secures $129.4 Million Loan For 462-Unit Multifamily At 111 Washington Street
111 Washington Street
See Similar DealsMultiFamily395,717 SF
Financed 06/27/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$327
Total Square Footage:395,717 SF
Transaction Type:Loan
The asset involved in this transaction is a multifamily residential building located at 111 Washington Street in the Financial District of Manhattan. The property encompasses a total square footage of 395,717 and consists of 462 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $129,400,000
- Lender: Brian Steiner & Adam Glick - Maxim Capital Group
- Landlord: Clay Grubb - Grubb Properties
The deal was facilitated by Clay Grubb representing Grubb Properties, which secured an additional $129.4 million loan specifically for the 462-unit residential building situated at the noted address. The lending was conducted through Maxim Capital Group, represented by Brian Steiner and Adam Glick.
Players
BROKERAGE
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$129,400,000.00
Monthly NOI$862,666.67
Monthly Debt Service$817,896.02
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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