Macklowe Properties Acquires One Wall Street For $750M With Deutsche Bank Financing
FINANCED
$750,000,000
New York
See Similar DealsOffice1,058,982 SF
Financed 11/21/2018
FINANCED
Macklowe Properties Acquires One Wall Street For $750M With Deutsche Bank Financing
1 Wall Street, Manhattan, New York, NY, USA
See Similar DealsOffice1,058,982 SF
Financed 11/21/2018
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$708
Total Square Footage:1,058,982 SF
Transaction Type:Loan
The property involved in this transaction is located at One Wall Street in Manhattan. The asset type is an office building that will be converted into residential condominiums. The transaction took place on November 21, 2018.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $750,000,000
- Address: One Wall Street, Manhattan
- Market: Manhattan
- Lender: Deutsche Bank
- Borrower: Macklowe Properties
- Brokers: Aaron Appel and Kellogg Gaines of JLL NY Capital Markets
- Loan Terms: 5 year term with an approx. 5% rate
Aaron Appel and Kellogg Gaines from JLL NY Capital Markets represented the borrower, Macklowe Properties, in this transaction. Deutsche Bank provided the loan of $750,000,000 with a 5-year term and an approximate interest rate of 5%.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$750,000,000.00
Monthly NOI$5,000,000.00
Monthly Debt Service$4,740,510.18
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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