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10 E 53rd St, New York, NY ...

Wells Fargo Provides $220M Loan For Office Building At 10 East 53rd Street In Plaza District
FINANCEDOffice

Wells Fargo Provides $220M Loan For Office Building At 10 East 53rd Street In Plaza District

10 E 53rd St, New York, NY 10022, USA

$220,000,000

$571/SF

Building Size

385,000 SF

Asset Type

Office

Closing

Apr 7, 2020

AI

10 East 53rd Street in the Plaza District has been the subject of a recent closed transaction. The property, an office building, was involved in a deal that took place on April 8, 2020. The loan for this transaction was provided by Wells Fargo, while the landlord of the property is SL Green Realty represented by Andrew Matthias and Marc Holliday. The brokers involved in the deal were Aaron Appel, Keith Kurland, Jonathan Schwartz, and Adam Schwartz from Walker & Dunlop.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $220,000,000
  • Loan Terms: 5 years
  • Square Footage: 385,000

This transaction involved key individuals and companies. Aaron Appel, Keith Kurland, Jonathan Schwartz, and Adam Schwartz represented the buyer, seller, landlord, or tenant in the deal. They played a crucial role in facilitating the transaction and ensuring its success.

Players

Aaron Appel

Walker & Dunlop

Broker

$32.5B

vol

195 deals

Broker
Wells Fargo
Wells FargoLender
Marc Holliday

Marc Holliday

SL Green

Landlord

$9.6B

vol

40 deals

Landlord

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

0.07%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93