Andrew Roos, Michael T. Cohen & Robert Getreu Refinance Office Property In Flatiron District For $34M - Apple Bank For Savings Loaned
287 Park Ave S, New York, NY 10010, USA
$105,000,000
$986/SF
Building Size
106,453 SF
Asset Type
Office
Closing
Nov 29, 2020
AI
Located at 120 East 23rd Street in the Flatiron District of Manhattan, this office property spans 200,757 square feet. The transaction involved a refinancing deal.
Summary of transation details
- Property Type: Office
- Transaction Amount: $34,000,000
- Date: 10/27/2022
- Lender: Apple Bank for Savings - Cynthia Wang
- Landlord: Andrew Roos, Michael T. Cohen & Robert Getreu
The deal was facilitated by Cynthia Wang of Apple Bank for Savings as the lender. Andrew Roos, Michael T. Cohen, and Robert Getreu acted as the landlords in the transaction.
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
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93