Vornado Realty Trust Secures $500M Loan For Midtown Office At 11 Pennsylvania Plaza
11 Pennsylvania Plaza, New York, NY 10001, Estados Unidos
$500,000,000
$416/SF
Building Size
1,200,000 SF
Asset Type
Office
Closing
Oct 19, 2020
About this deal
AI
Haim Chera and Steven Roth have secured a loan of $500,000,000 for an office property located at 11 Pennsylvania Plaza in Midtown. The property spans 1,200,000 square feet and is owned by Vornado Realty Trust.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $500,000,000
- Square Footage: 1,200,000
- Address: 11 Pennsylvania Plaza
- Market: Midtown
- Landlord: Vornado Realty Trust
Haim Chera and Steven Roth were able to secure the loan for this office property in Midtown. The deal was facilitated by Vornado Realty Trust as the landlord.
Players
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Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93