facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Office

/

Loan

/

109-111 West 24th Street, M...

Twobins Capital Represents Okada In $15M Acquisition Loan For Flatiron Office Building At 109-111 W 24th St
FINANCEDOffice

Twobins Capital Represents Okada In $15M Acquisition Loan For Flatiron Office Building At 109-111 W 24th St

109-111 West 24th Street, Manhattan, New York, NY, USA

$15,000,000

$337/SF

Building Size

44,500 SF

Asset Type

Office

Closing

Oct 28, 2021

AI

The property asset involved in the transaction is located at 109-111 West 24th Street in the Flatiron market, consisting of an office space with a total square footage of 44,500. An acquisition loan amounting to $15,000,000 was secured for this property.

Summary of transaction details:

The individuals associated with this deal include Jason Behfarin, Robert Palumbo, and Chris Goetz, who represent the lending side, while Christopher Okada serves as the landlord's representative. Jon Bodner and Emanuel Westfried acted as brokers, facilitating the transaction through their agency, Twobins Capital.

Players

Christopher Okada

Okada & Company

Broker

$352.8M

vol

85 deals

Broker
G4 Capital Partners
G4 Capital PartnersLender
Christopher (Chris) Okada

Christopher Okada

Landlord

$352.8M

vol

85 deals

Landlord

New York Office Market Snapshot

Boundary boundary · Office · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.06%

Cash-on-Cash

-0.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93