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26 Broadway, New York City,...

The Chetrit Organization Refinances FiDi Office Building At 26 Broadway For $330M With BMO, Starwood & HPS
FINANCEDOffice

The Chetrit Organization Refinances FiDi Office Building At 26 Broadway For $330M With BMO, Starwood & HPS

26 Broadway, New York City, New York 10004, United States

$330,000,000

$392/SF

Building Size

840,000 SF

Asset Type

Office

Closing

Feb 3, 2022

AI

Located at 26 Broadway in the Financial District (FiDi), this office property spans 840,000 square feet. The property was recently involved in a refinancing deal.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $330,000,000
  • Lender: BMO, Starwood, and HPS
  • Landlord: The Chetrit Organization - Jake Chetrit & Michael Chetrit
  • Brokers: Robert Verrone & Anthony D'Amelio - Ironhound Management

The refinancing deal for this property was facilitated by lenders BMO, Starwood, and HPS. The Chetrit Organization, represented by Jake Chetrit and Michael Chetrit, is the landlord. The transaction was brokered by Robert Verrone and Anthony D'Amelio from Ironhound Management.

Players

Robert Verrone

Iron Hound Management Company

Broker

$5.9B

vol

31 deals

Broker
HPS Investment Partners
HPS Investment PartnersLender
Chetrit Group
Chetrit GroupLandlord

Michael Chetrit

Chetrit Group

Landlord

$1.6B

vol

6 deals

Landlord

New York Office Market Snapshot

Boundary boundary · Office · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.05%

Cash-on-Cash

-0.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93