Donald Quintin Of Lone Star Funds Acquires $22.7M Loan From Flagstar Bank For Office Building
247 West 30th Street
$22,700,000
Building Size
—
Asset Type
Note / Loan
Closing
Feb 26, 2025
About this deal
AI
A loan was acquired by Lone Star Funds from Flagstar Bank, involving a deal related to a note secured by a 60,397-square-foot office building. The transaction occurred at 247 West 30th Street, located in the Penn Plaza market, with a sale price of $22,700,000.
Summary of transaction details:
- Property Type: Note / Loan
- Transaction Amount: $22,700,000
- Buyer: Donald Quintin - Lone Star Funds
- Seller: Flagstar Bank
- Asset Address: 247 West 30th Street
- Market: Penn Plaza, Manhattan
Donald Quintin represented Lone Star Funds in the acquisition, focusing on the transaction with Flagstar Bank for the loan secured by SYU Properties’ office building.
On the Map
$22,700,000
Note / Loan
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New York Note / Loan Market Snapshot
Boundary boundary · Note / Loan · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.70%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93