Vornado Realty Trust Refinances Office Buildings In Chelsea & East Village For $3.2B With JPMorgan Chase Bank, BofA Securities, U.S. Bank, Wells Fargo Securities, Citigroup Global Markets, Deutsche Bank Securities & TD Securities
100 W 33rd St, New York City, New York 10001, United States
$3,200,000,000
$1,454/SF
Building Size
2,200,000 SF
Asset Type
Office
Closing
Jul 5, 2022
About this deal
AI
Located in the vibrant neighborhoods of Chelsea and East Village, this office property at 100 W. 33rd St. & 770 Broadway has recently undergone a significant financial transaction. With a total square footage of 2,200,000, this asset offers ample space for various business operations.
Summary of Transaction Details
- Property Type: Office
- Transaction Amount: $3,200,000,000
- Address: 100 W. 33rd St. & 770 Broadway
- Market: Chelsea & East Village
- Lender: JPMorgan Chase Bank, BofA Securities Inc., U.S. Bank, Wells Fargo Securities, Citigroup Global Markets, Deutsche Bank Securities, and TD Securities
- Landlord: Vornado Realty Trust
- Loan Type: Refinance
The financing for this transaction was provided by a consortium of lenders, including JPMorgan Chase Bank, BofA Securities Inc., U.S. Bank, Wells Fargo Securities, Citigroup Global Markets, Deutsche Bank Securities, and TD Securities. Their involvement highlights the confidence placed in this property and its potential for long-term success. The refinance loan amount of $3,200,000,000 will enable the property's ongoing growth and development.
On the Map
$3,200,000,000
$1,454/SF
Office
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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
0.00%
Cash-on-Cash
-0.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93