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
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