Updated Nov 28, 2024
Bank Of America Provides $31.92 Million Loan For Manhattan Office Building
Manhattan
$31,920,000
Building Size
—
Asset Type
MultiFamily
Closing
May 18, 2023
About this deal
AI
Bank of America has provided mortgage financing of $31.92 million for a 250,000-square-foot building located at 22 Cortlandt Street in Manhattan's financial district. The property is an office building and is home to Century 21's flagship store.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $31,920,000
- Market: Manhattan
- Address: 22 Cortlandt Street
- Square Footage: 250,000
The lender involved in this transaction is Bank of America. They provided the mortgage financing for the property.
The multifamily sale at Manhattan in New York, New York sold for $31.9M in 2023. Manhattan is classified as Multifamily on Traded. This page is the New York, New York file for the Manhattan multifamily sold: pricing, party profiles, and other closed multifamily comps from the same New York sit in the Market section below. Filter that New York multifamily set by closing date to see what else sold near Manhattan around 2023. Published consideration for Manhattan is $31.9M, dated 2023. Cite this Bank Of America Provides $31.92 Million Loan For Manhattan Office Building sale when underwriting similar multifamily product around New York, New York.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93