SOLDNote / Loan
Billy Macklowe Acquires Troubled Loan On 291 Broadway In Tribeca For $46 Million
291 Broadway
$46,000,000
Building Size
—
Asset Type
Note / Loan
Closing
Dec 2, 2025
About this deal
AI
291 Broadway is a property located in the Tribeca market of Manhattan. The asset type is a note/loan, which was involved in a significant real estate transaction.
Summary of transaction details:
- Property Type: Note / Loan
- Transaction Amount: $46,000,000
- Buyer: Billy Macklowe
- Lender: Flagstar Bank
- Date of Transaction: 12/02/2025
Billy Macklowe's firm acquired the troubled loan on the property at 291 Broadway from Flagstar Bank, which was facing foreclosure and receivership, indicating a complex financial situation surrounding the asset.
On the Map
$46,000,000
Note / Loan
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Players
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
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93