Brookfield, China Investment Corporation & AEW Lend $835M For Office At 1 New York Plaza
One New York Plaza, Whitehall Street, New York, NY, USA
$835,000,000
$321/SF
Building Size
2,600,000 SF
Asset Type
Office
Closing
Dec 20, 2020
About this deal
AI
The property involved in the transaction is an office space located at 1 New York Plaza in the Financial District. The transaction took place on 12/21/2020.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $835M
- Square Footage: 2.6M
- Address: 1 New York Plaza
- Market: Financial District
The lenders involved in the transaction were Brookfield Properties, China Investment Corporation, and AEW. The landlords were Wells Fargo, Goldman Sachs, and BMO Harris Bank.
The anchor tenant for this office space is Morgan Stanley.
Players
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
0.02%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93