Wells Fargo Provides $72M Loan For Office Building At 104 West 40th Street In Garment District
104 West 40th Street, Manhattan, New York, NY, USA
$72,000,000
$415/SF
Building Size
173,108 SF
Asset Type
Office
Closing
Jul 15, 2021
AI
The office property located at 104 West 40th Street in the Garment District has recently undergone a closed transaction. The loan for this transaction was provided by Wells Fargo for a total amount of $72,000,000. The total square footage of the property is 173,108. The landlord of the property is Princeton International Properties, represented by David Tawfik.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $72,000,000
- Square Footage: 173,108
- Address: 104 West 40th Street
- Market: Garment District
Wells Fargo provided the loan for this property transaction. The landlord, Princeton International Properties, was represented by David Tawfik.
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
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93