David Koeppel Of Koeppel Rosen Secures $10M Refinance From Customers Bank For Office In Chelsea
122 West 27th Street
$10,000,000
$85/SF
Building Size
117,291 SF
Asset Type
Office
Closing
Apr 2, 2026
AI
The asset involved in this transaction is an office building located at 122 West 27th Street in Chelsea, Manhattan. This property has a total square footage of 117,291 and has undergone a refinancing process with a loan amount of $10,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $10,000,000
- Lender: Customers Bank
- Landlord: David Koeppel - Koeppel Rosen
- Loan Type: Refinance
- Previous Debt Holder: Blackstone Group
- Previous Debt Amount: $9,100,000
- Deal Closed Date: April 2, 2026
- Record Date: April 8, 2026
Koeppel Rosen LLC, through Nstc Spe LLC, secured this refinance deal with Customers Bank, effectively replacing the prior debt held by Blackstone Group. David Koeppel represents Koeppel Rosen in this 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
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93