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Deutsche Bank Provides $145M Refinance Loan For Multifamily Building At 180 Broome St. Lower East Side

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FINANCED
$145,000,000
Keith Kurland
Adam Schwartz
+ 2

New York

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MultiFamily233,000 SF
Financed 06/09/2022
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FINANCED

Deutsche Bank Provides $145M Refinance Loan For Multifamily Building At 180 Broome St. Lower East Side

180 Broome Street, New York City, New York 10002, United States

See Similar Deals
MultiFamily233,000 SF
Financed 06/09/2022
Keith Kurland
Adam Schwartz
+ 2
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$622
Total Square Footage:233,000 SF
Transaction Type:Loan

The Artisan at Essex Crossing, located at 180 Broome St. in the Lower East Side, is a multifamily property with 263 units. The property spans 233,000 square feet and is owned by Taconic Partners, L+M Development, BFC Partners, and Goldman Sachs. The loan, totaling $145,000,000, was secured from Deutsche Bank for the purpose of refinancing the property. The transaction took place on June 9, 2022.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $145,000,000
  • Address: 180 Broome St.
  • Market: Lower East Side
  • Square Footage: 233,000
  • Units: 263

The brokers involved in the deal were Jonathan Schwartz, Aaron Appel, Adam Schwartz, Keith Kurland, Mo Beler, and Sean Reimer from Walker & Dunlop. They represented the parties involved in the transaction. It is worth noting that Taconic Partners, L+M Development, BFC Partners, and Goldman Sachs acted as the landlords in this deal.

Players

Aaron Appel
190 deals$31.9B volume
BROKER

Jonathan Schwartz
Walker & Dunlop
165 deals$26.9B volume
BROKER

Keith Kurland
Walker & Dunlop
170 deals$29.1B volume
BROKER

Adam Schwartz
Walker & Dunlop
160 deals$25.4B volume(646) 491-8869
BROKER

Mo Beler
Walker & Dunlop
35 deals$6.4B volume
BROKER

Deutsche Bank
LENDER


BFC PARTNERS
LANDLORD


Details

FINANCED
IMAGE: Jonathan Schwartz, Aaron Appel, Adam Schwartz, Keith Kurland, Mo Beler & Sean Reimer DATE: 06/09/2022 ADDRESS: 180 Broome St. MARKET: Lower East Side ASSET TYPE: Multifamily ~ SF: 233,000 ~ UNITS: 263 LENDER: Deutsche Bank (@DeutscheBank) LANDLORD: Taconic Partners, L+M Development, BFC Partners (@BFCPartners) & Goldman Sachs (@GoldmanSachs) BROKERS: Walker & Dunlop - Jonathan Schwartz (@JonSchwartz), Aaron Appel, Adam Schwartz, Keith Kurland (@BeefyAppleSeed), Mo Beler (@MBeler) & Sean Reimer LOAN AMOUNT: $145,000,000 LOAN TYPE: Refinance LOAN TERMS: The Artisan at Essex Crossing

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$145,000,000.00

Monthly NOI$966,666.67
Monthly Debt Service$916,498.63
Change in Cash Flow$0.00
Refinance Proceeds$0.00