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Ladder Capital Provides $31M Refinance Loan For Office Building At 10-12 E. 33rd Street In Manhattan

Property Image
FINANCED
$31,000,000
Aaron Katz
Riaz Cassum
+ 2

New York

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Office70,000 SF
Financed 02/01/2022
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Property Image
FINANCED

Ladder Capital Provides $31M Refinance Loan For Office Building At 10-12 E. 33rd Street In Manhattan

10 East 33rd Street, New York City, New York 10016, United States

See Similar Deals
Office70,000 SF
Financed 02/01/2022
Aaron Katz
Riaz Cassum
+ 2
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Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$442
Total Square Footage:70,000 SF
Transaction Type:Loan

Danny Wrublin, Max Herzog, Michael Gigliotti, Adam Siper, and Bill Marcus have closed a loan transaction in Manhattan. The property involved in the deal is an office space located at 10-12 E. 33rd Street, covering an area of 70,000 square feet.

Summary of transaction details

The loan transaction, which took place on 02/01/2022, involved a refinance of the property. The lender, Ladder Capital, was represented by Adam Siper and Simmons Gaines. Marcus Partners and Dalan Management acted as the landlords. The transaction was facilitated by brokers Max Herzog, Michael Gigliotti, Aaron Katz, Ricky Song, and Riaz Cassum from JLL.

Players

Michael Gigliotti
19 deals$3.7B volume
BROKER

Max Herzog
Institutional Property Advisors
80 deals$5.4B volume(212) 430-5165
BROKER

Riaz Cassum
JLL
8 deals$1.8B volume
BROKER

Aaron Katz
JLL
5 deals$276M volume
BROKER

Ricky Song
JLL
3 deals$119.2M volume
BROKER

Ladder Capital
LENDER


Details

FINANCED
IMAGE: Danny Wrublin, Max Herzog, Michael Gigliotti, Adam Siper & Bill Marcus DATE: 02/01/2022 ADDRESS: 10-12 E. 33rd Street MARKET: Manhattan ASSET TYPE: Office ~ SF: 70,000 LENDER: Ladder Capital - Adam Siper & Simmons Gaines LANDLORD: Marcus Partners & Dalan Management BROKERS: Max Herzog, Michael Gigliotti, Aaron Katz, Ricky Song & Riaz Cassum - JLL LOAN AMOUNT: $31,000,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$31,000,000.00

Monthly NOI$206,666.67
Monthly Debt Service$195,941.09
Change in Cash Flow$0.00
Refinance Proceeds$0.00