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Midtown Equities & Rockwood Capital Secure $125M Refinance Loan For 1 Broadway Office Building In Financial District

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FINANCED
$125,000,000

New York

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Office
Financed 10/11/2023
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FINANCED

Midtown Equities & Rockwood Capital Secure $125M Refinance Loan For 1 Broadway Office Building In Financial District

1 Broadway

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Office
Financed 10/11/2023
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Summary

NEW YORK
Asset Type:Office
Transaction Type:Loan

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.

Players

LENDER



Details

FINANCED
IMAGE: David Streicher DATE: 10/11/2023 ADDRESS: 1 Broadway MARKET: Financial District ASSET TYPE: Office LENDER: Vincent Clauss & Sarah Kraft - Deutsche Pfandbriefbank AG LANDLORD: Midtown Equities & David Streicher - Rockwood Capital LOAN AMOUNT: $125,000,000 LOAN TYPE: Refinance NOTE: 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.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$125,000,000.00

Monthly NOI$833,333.33
Monthly Debt Service$790,085.03
Change in Cash Flow$0.00
Refinance Proceeds$0.00