Updated Oct 28, 2024
Blackstone Provides $258M Loan On Multifamily Property In TriBeCa
34 Desbrosses Street, New York, NY 10013
$258,000,000
$6,999/SF
Building Size
36,858 SF
Asset Type
MultiFamily
Closing
Aug 24, 2020
About this deal
AI
34 Desbrosses Street, also known as Truffles TriBeCa, is a multifamily property located in TriBeCa. The property was involved in a recent closed transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $258,000,000
The loan for this transaction was provided by blackstone''>Blackstone, a prominent lending institution. The landlord of the property is Related Companies. The deal was facilitated by Newmark, with Jordy Roeschlaub, Dustin Stolly, and Dan Fromm representing the brokerage agency.
The involvement of key individuals and companies in the deal includes Jon Gray, Stephen Ross, and Jeff Blau, among others, as depicted in the accompanying image shared by the parties involved.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93