Midtown Equities & Rockwood Capital Secure $125M Refinance Loan For 1 Broadway Office Building In Financial District
1 Broadway
$125,000,000
Building Size
—
Asset Type
Office
Closing
Oct 11, 2023
About this deal
AI
Midtown Equities and Rockwood Capital, represented by signatory David Streicher, secured a $125 million refinance loan from Deutsche Pfandbriefbank for the office building at 1 Broadway in Manhattan's Financial District. The property is located at 1 Broadway and is situated in the Financial District market.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $125,000,000
- Lender: Vincent Clauss & Sarah Kraft - Deutsche Pfandbriefbank AG
- Landlord: Midtown Equities & David Streicher - Rockwood Capital
- Loan Type: Refinance
The loan was secured by Midtown Equities and Rockwood Capital, with Vincent Clauss and Sarah Kraft from Deutsche Pfandbriefbank AG acting as the lenders. David Streicher, representing Midtown Equities and Rockwood Capital, played a significant role in finalizing the refinance deal. The transaction took place on 10/11/2023 and the property is situated in the Financial District of Manhattan.
On the Map
$125,000,000
Office
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Players
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93