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Metropolitan Commercial Bank Refinances Office Building At 115 West 30th Street For $30M

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FINANCED
$30,000,000

New York

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Office151,525 SF
Financed 08/09/2022
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Property Image
FINANCED

Metropolitan Commercial Bank Refinances Office Building At 115 West 30th Street For $30M

115 West 30th Street, New York City, New York 10001, United States

See Similar Deals
Office151,525 SF
Financed 08/09/2022
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Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$198
Total Square Footage:151,525 SF
Transaction Type:Loan

The office building located at 115 West 30th Street in Penn Station has recently undergone a refinancing transaction. The property spans a total area of 151,525 square feet, making it a significant asset in the office market. The refinance loan for this transaction was provided by Metropolitan Commercial Bank, with a loan amount of $30,000,000. Justin Management is the landlord associated with this property.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $30,000,000
  • Address: 115 West 30th Street
  • Market: Penn Station
  • Asset Type: Office
  • Square Footage: 151,525

In this transaction, Metropolitan Commercial Bank acted as the lender, providing the necessary funds for the refinancing. Justin Management served as the landlord for the property. The involvement of these key individuals and companies highlights their role in the deal and their contribution to the successful refinancing process.

Players

LENDER

Details

FINANCED
IMAGE: 08/09/2022 ADDRESS: 115 West 30th Street MARKET: Penn Station ASSET TYPE: Office ~ SF: 151,525 LENDER: Metropolitan Commercial Bank LANDLORD: Justin Management LOAN AMOUNT: $30,000,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$30,000,000.00

Monthly NOI$200,000.00
Monthly Debt Service$189,620.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00