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Samco Properties Secures $11M Loan From Apple Bank In Chelsea Office Deal
FINANCED
$11,000,000
New York
See Similar DealsOffice121,579 SF
Financed 05/09/2024
FINANCED
Samco Properties Secures $11M Loan From Apple Bank In Chelsea Office Deal
104 West 29th Street manhatta
See Similar DealsOffice121,579 SF
Financed 05/09/2024
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$90
Total Square Footage:121,579 SF
Transaction Type:Loan
The office building located at 104 West 29th Street in Chelsea, Manhattan is a property spanning 121,579 square feet. Samco Properties secured an $11 million loan from Apple Bank for this asset, at a loan price of $90 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $11,000,000
- Address: 104 West 29th Street
- Market: Chelsea, Manhattan
- Lender: Apple Bank
- Landlord: Jeffrey D. Smith & Michael Smith - Samco Properties
The $11 million loan from Apple Bank for the office building at 104 West 29th Street in Chelsea, Manhattan was secured by Samco Properties. The individuals behind this deal are Jeffrey D. Smith and Michael Smith, who represent Samco Properties as the landlords of the property.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$11,000,000.00
Monthly NOI$73,333.33
Monthly Debt Service$69,527.48
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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