Brookfield Properties Secures $1.8B Loan For 1 Manhattan West Office Building
401 9th Ave, New York, NY 10001, USA
$280,192
$0/SF
Building Size
18,406,000 SF
Asset Type
Office
Closing
Aug 31, 2020
About this deal
AI
The loan for the property at 1 Manhattan West has been closed. The lenders involved in the transaction are German American Capital Corp., Wells Fargo, Barclays Capital Real Estate, Citi Real Estate, and JPMorgan. The loan amount for this transaction is $1,800,000,000, and the total square footage of the property is 1,840,600.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $1,800,000,000
- Address: 1 Manhattan West
- Lender: German American Capital Corp., Wells Fargo, Barclays Capital Real Estate, Citi Real Estate, JPMorgan
- Square Footage: 1,840,600 SF
The landlord for the property is Brookfield Properties. The tenant breakdown includes Skadden Arps Flom LLP, leasing 638,784 SF at $77/ft., EY leasing 636,416 SF at $85/ft., and Accenture leasing 280,192 SF. Please note that there are no additional details available about this transaction.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
56.61%
Cash-on-Cash
-16.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93