MetLife Provides $70M Refinance Loan For Multifamily Property In Financial District With Landlord As Rose Associates
FINANCED
$70,000,000
New York
See Similar DealsMultiFamily335,746 SF
Financed 04/04/2022
FINANCED
MetLife Provides $70M Refinance Loan For Multifamily Property In Financial District With Landlord As Rose Associates
21 West Street, New York City, New York 10006, United States
See Similar DealsMultiFamily335,746 SF
Financed 04/04/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$208
Total Square Footage:335,746 SF
Transaction Type:Loan
The loan for the property located at 21 West Street in the Financial District was recently refinanced. The property is a multifamily asset with a total square footage of 335,746. The loan was provided by MetLife, and the landlord of the property is Rose Associates. The loan amount for the refinancing was $70,000,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $70,000,000
- Address: 21 West Street
- Market: Financial District
- Lender: MetLife
- Landlord: Rose Associates
- Total Square Footage: 335,746
This transaction represents a significant refinancing deal in the Financial District. With the involvement of MetLife as the lender and Rose Associates as the landlord, it showcases the trust and confidence in the property's value. The refinancing will provide the necessary capital for further development and maintenance of the multifamily asset.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$70,000,000.00
Monthly NOI$466,666.67
Monthly Debt Service$442,447.62
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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