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

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FINANCED
$220,000,000
Adam Schwartz
Aaron Appel
+ 3

New York

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Office385,000 SF
Financed 04/08/2020
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Property Image
FINANCED

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

See Similar Deals
Office385,000 SF
Financed 04/08/2020
Adam Schwartz
Aaron Appel
+ 3
Contact now

Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$571
Total Square Footage:385,000 SF
Transaction Type:Loan

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
190 deals$31.9B volume
BROKER

Jonathan Schwartz
Walker & Dunlop
165 deals$26.9B volume
BROKER

Keith Kurland
Walker & Dunlop
170 deals$29.1B volume
BROKER

Adam Schwartz
Walker & Dunlop
160 deals$25.4B volume(646) 491-8869
BROKER

Wells Fargo
LENDER

Marc Holliday
SL Green
39 deals$9.6B volume
LANDLORD

Andrew Mathias
SL Green
8 deals$1.2B volume
LANDLORD

Details

FINANCED
IMAGE: Appel, Andrew Matthias, Keith Kurland, Marc Holliday, Jonathan Schwartz, & Adam Schwartz DATE: 04/08/2020 ADDRESS: 10 East 53rd Street MARKET: Plaza District ASSET TYPE: Office LENDER: Wells Fargo LANDLORD: SL Green Realty - Andrew Matthias & Marc Holliday BROKERS: Aaron Appel, Keith Kurland, Jonathan Schwartz & Adam Schwartz @WalkerDunlop LOAN AMOUNT: $220,000,000 LOAN TERMS: 5 years SF: 385,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$220,000,000.00

Monthly NOI$1,466,666.67
Monthly Debt Service$1,390,549.65
Change in Cash Flow$0.00
Refinance Proceeds$0.00