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34 Desbrosses Street, New Y...

Updated Oct 28, 2024

Blackstone Provides $258M Loan On Multifamily Property In TriBeCa
FINANCEDMultiFamily

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

Dustin Stolly

Walker & Dunlop

Broker

$51.1B

vol

273 deals

Broker
Blackstone
BlackstoneLender

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $7K per square foot on a published $258M for 36,858 square feet (2020).

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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

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